Private Harbour Investment Management & Counsel LLC Sells 600 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Private Harbour Investment Management & Counsel LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,850 shares of the oil and gas producer’s stock after selling 600 shares during the quarter. Private Harbour Investment Management & Counsel LLC’s holdings in Enterprise Products Partners were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $25,000. Stephens Consulting LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPD. Royal Bank of Canada boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday. They issued a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Up 0.5 %

Shares of EPD traded up $0.16 during trading hours on Thursday, reaching $29.35. 176,245 shares of the stock traded hands, compared to its average volume of 4,290,113. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a market cap of $63.74 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.49 and a beta of 1.03. The stock has a fifty day simple moving average of $29.21 and a 200 day simple moving average of $28.97. 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 earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS 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 the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

About Enterprise Products Partners

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.