Enterprise Products Partners L.P. (NYSE:EPD) Holdings Reduced by FineMark National Bank & Trust

FineMark National Bank & Trust lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,913 shares of the oil and gas producer’s stock after selling 1,500 shares during the period. FineMark National Bank & Trust’s holdings in Enterprise Products Partners were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at about $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the first quarter worth about $29,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $28,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of several recent analyst reports. Truist Financial increased their price objective 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 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. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Two equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

EPD stock opened at $28.87 on Friday. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The firm has a 50-day moving average of $29.18 and a two-hundred day moving average of $28.76. The firm has a market capitalization of $62.68 billion, a PE ratio of 11.32, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the prior year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current 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 given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.28%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

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