Tufton Capital Management Sells 13,015 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tufton Capital Management reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,636 shares of the oil and gas producer’s stock after selling 13,015 shares during the period. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in EPD. Bank of Montreal Can grew its stake in shares of Enterprise Products Partners by 86.9% in the 1st quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock valued at $260,084,000 after purchasing an additional 4,156,710 shares during the period. BlackRock Inc. grew its stake in shares of Enterprise Products Partners by 10.9% in the 1st quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after purchasing an additional 1,665,379 shares during the period. Wells Fargo & Company MN grew its stake in shares of Enterprise Products Partners by 27.6% in the 1st quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after purchasing an additional 1,341,023 shares during the period. Ronna Sue Cohen grew its stake in shares of Enterprise Products Partners by 2,830.8% in the 1st quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock valued at $1,312,000 after purchasing an additional 1,267,350 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Enterprise Products Partners by 4.6% in the 1st quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after purchasing an additional 884,418 shares during the period. Institutional investors own 36.61% of the company’s stock.

In other Enterprise Products Partners news, Director Murray E. Brasseux bought 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $30.00 per share, with a total value of $150,000.00. Following the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 37.50% of the stock is owned by insiders.

Shares of EPD traded down $0.79 on Wednesday, hitting $28.18. The company’s stock had a trading volume of 127,505 shares, compared to its average volume of 3,876,613. The firm has a market capitalization of $62.35 billion, a P/E ratio of 14.53, a PEG ratio of 3.44 and a beta of 0.88. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86. The business has a 50 day moving average price of $29.66.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. Enterprise Products Partners had a return on equity of 20.20% and a net margin of 14.26%. Enterprise Products Partners’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st will be issued a $0.44 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Tuesday, July 30th. Enterprise Products Partners’s payout ratio is presently 90.72%.

Several research firms have recently weighed in on EPD. Johnson Rice began coverage on Enterprise Products Partners in a research note on Thursday, May 30th. They issued a “buy” rating and a $35.00 price objective on the stock. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, April 11th. Finally, Piper Jaffray Companies began coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $33.57.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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