Parkside Financial Bank & Trust Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Parkside Financial Bank & Trust lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,858 shares of the oil and gas producer’s stock after selling 6,223 shares during the period. Enterprise Products Partners accounts for about 0.7% of Parkside Financial Bank & Trust’s holdings, making the stock its 22nd largest holding. Parkside Financial Bank & Trust’s holdings in Enterprise Products Partners were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Capital Advisors Inc. OK boosted its stake in Enterprise Products Partners by 7.1% during the 2nd quarter. Capital Advisors Inc. OK now owns 21,418 shares of the oil and gas producer’s stock valued at $618,000 after purchasing an additional 1,418 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in Enterprise Products Partners by 71.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 12,395 shares of the oil and gas producer’s stock valued at $357,000 after purchasing an additional 5,171 shares during the last quarter. Smithbridge Asset Management Inc. DE boosted its stake in Enterprise Products Partners by 2.3% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock valued at $2,272,000 after purchasing an additional 1,775 shares during the last quarter. Ashburton Jersey Ltd purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $63,000. Finally, Northstar Investment Advisors LLC boosted its stake in Enterprise Products Partners by 1.2% during the 3rd quarter. Northstar Investment Advisors LLC now owns 216,677 shares of the oil and gas producer’s stock valued at $6,177,000 after purchasing an additional 2,548 shares during the last quarter. Institutional investors own 36.77% of the company’s stock.

Several brokerages have commented on EPD. Stifel Nicolaus increased their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, August 26th. Piper Jaffray Companies began coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They set an “overweight” rating and a $37.00 target price on the stock. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada began coverage on Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $33.50.

Shares of EPD stock traded down $0.10 on Friday, reaching $26.33. The stock had a trading volume of 4,099,607 shares, compared to its average volume of 4,042,235. The stock has a market cap of $58.34 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 3.05 and a beta of 0.87. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The company has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $28.61.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion during the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. The business’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be paid a $0.4425 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 91.24%.

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. The company operates through 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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