Harbour Investments Inc. Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Harbour Investments Inc. decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 30,501 shares of the oil and gas producer’s stock after selling 351 shares during the period. Harbour Investments Inc.’s holdings in Enterprise Products Partners were worth $884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $37,000. Finally, First Command Advisory Services Inc. increased its position in Enterprise Products Partners by 130.4% during the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 913 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock traded down $0.19 on Wednesday, reaching $28.99. The company’s stock had a trading volume of 1,142,124 shares, compared to its average volume of 4,567,790. The company has a market capitalization of $62.95 billion, a P/E ratio of 11.44, a PEG ratio of 1.33 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The stock’s 50 day simple moving average is $29.11 and its 200-day simple moving average is $28.64.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of 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. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average 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.