ProVise Management Group LLC Sells 759 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

ProVise Management Group LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 179,727 shares of the oil and gas producer’s stock after selling 759 shares during the period. ProVise Management Group LLC’s holdings in Enterprise Products Partners were worth $4,736,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. bought a new position in Enterprise Products Partners during the 3rd quarter valued at $48,000. Community Bank N.A. grew its stake in shares of Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 750 shares in the last quarter. American National Bank purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $49,000. Finally, Bear Mountain Capital Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth about $53,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $32.69.

Get Our Latest Stock Analysis on EPD

Enterprise Products Partners Stock Down 0.0 %

Shares of EPD stock traded down $0.01 during mid-day trading on Friday, hitting $28.20. The company’s stock had a trading volume of 3,719,521 shares, compared to its average volume of 4,840,146. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.33 and a beta of 1.02. The business has a 50-day moving average price of $28.83 and a 200 day moving average price of $27.50.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Enterprise Products Partners Company Profile

(Free Report)

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.

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

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