Private Harbour Investment Management & Counsel LLC Has $316,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

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

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

Enterprise Products Partners Trading Up 0.5 %

Shares of EPD traded up $0.16 during trading hours on Thursday, reaching $29.35. The stock had a trading volume of 176,245 shares, compared to its average volume of 4,290,113. The firm has a 50-day moving average of $29.21 and a 200 day moving average of $28.97. 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 company has a market cap of $63.74 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EPD. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. 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, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday. They issued a “buy” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $33.73.

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.