Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,201 shares of the oil and gas producer’s stock after selling 800 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $210,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the fourth quarter worth approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners during the third quarter valued at about $48,000. Community Bank N.A. increased its stake in 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 worth $49,000 after acquiring an additional 750 shares during the last quarter. American National Bank purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth about $49,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $49,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.3 %

Shares of NYSE:EPD opened at $28.98 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $28.52 and a 200 day simple moving average of $27.90. The firm has a market cap of $62.93 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.11%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EPD. Scotiabank raised their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut 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. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.77.

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.