Northern Financial Advisors Inc Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Northern Financial Advisors Inc reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,224 shares of the oil and gas producer’s stock after selling 1,044 shares during the quarter. Northern Financial Advisors Inc’s holdings in Enterprise Products Partners were worth $902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Rational Advisors LLC acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners in the third quarter worth about $48,000. Community Bank N.A. grew its holdings in shares of Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $53,000. Finally, Headinvest LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $62,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.3 %

Enterprise Products Partners stock traded up $0.08 during mid-day trading on Wednesday, reaching $28.43. 1,353,393 shares of the company traded hands, compared to its average volume of 4,940,312. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The firm has a market capitalization of $61.64 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02. The firm’s 50 day moving average price is $28.68 and its 200 day moving average price is $27.36.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 10.76% and a return on equity of 19.75%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.25%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Truist Financial increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.75.

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.