ProVise Management Group LLC Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

ProVise Management Group LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,619 shares of the oil and gas producer’s stock after selling 23,114 shares during the quarter. ProVise Management Group LLC’s holdings in Enterprise Products Partners were worth $4,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aveo Capital Partners LLC lifted its holdings in Enterprise Products Partners by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock valued at $1,464,000 after acquiring an additional 716 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Enterprise Products Partners by 37.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,233 shares of the oil and gas producer’s stock valued at $349,000 after purchasing an additional 3,638 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Enterprise Products Partners by 13.0% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,911 shares of the oil and gas producer’s stock worth $392,000 after purchasing an additional 1,710 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Enterprise Products Partners by 2.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 529,375 shares of the oil and gas producer’s stock worth $13,949,000 after purchasing an additional 11,549 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Enterprise Products Partners by 1.3% in the 4th quarter. US Bancorp DE now owns 718,587 shares of the oil and gas producer’s stock valued at $18,935,000 after buying an additional 9,421 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.4 %

NYSE EPD opened at $29.38 on Friday. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The firm has a 50 day moving average of $29.22 and a two-hundred day moving average of $28.87. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $63.80 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued 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). 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 for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.15%. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analyst Ratings Changes

Several brokerages have weighed in on EPD. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.