Private Harbour Investment Management & Counsel LLC Decreases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Private Harbour Investment Management & Counsel LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,450 shares of the oil and gas producer’s stock after selling 525 shares during the period. Private Harbour Investment Management & Counsel LLC’s holdings in Enterprise Products Partners were worth $332,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $25,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners in the first quarter worth about $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $28,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.7 %

Shares of EPD stock opened at $29.16 on Thursday. The stock has a market cap of $63.32 billion, a P/E ratio of 11.44, a PEG ratio of 1.47 and a beta of 1.03. The company’s fifty day simple moving average is $29.18 and its two-hundred day simple moving average is $28.80. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analyst Ratings Changes

A number of analysts have commented on EPD shares. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Company 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.