Enterprise Products Partners L.P. $EPD Shares Sold by Frisch Financial Group Inc.

Frisch Financial Group Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 31,842 shares of the oil and gas producer’s stock after selling 600 shares during the quarter. Frisch Financial Group Inc.’s holdings in Enterprise Products Partners were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the first quarter worth $27,000. Security National Bank purchased a new stake in Enterprise Products Partners during the first quarter worth $30,000. Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners during the first quarter worth $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the first quarter worth $34,000. Finally, Colonial Trust Co SC boosted its holdings in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.3950 on Wednesday. The firm has a 50-day simple moving average of $31.39 and a 200-day simple moving average of $31.84. The stock has a market capitalization of $67.98 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Citigroup decreased their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Scotiabank increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.25.

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.