Haverford Trust Co. Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Haverford Trust Co. cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 109,053 shares of the oil and gas producer’s stock after selling 1,030 shares during the quarter. Haverford Trust Co.’s holdings in Enterprise Products Partners were worth $3,117,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $29,000. TCI Wealth Advisors Inc. boosted its stake in Enterprise Products Partners by 400.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 800 shares in the last quarter. D Orazio & Associates Inc. bought a new position in Enterprise Products Partners in the 3rd quarter worth about $30,000. Centersquare Investment Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth about $34,000. Finally, TRUE Private Wealth Advisors bought a new position in Enterprise Products Partners in the 2nd quarter worth about $41,000. 36.77% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners stock traded down $0.10 during mid-day trading 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 company has a market capitalization of $58.34 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.05 and a beta of 0.87. The company has a 50-day moving average price of $27.64 and a two-hundred day moving average price of $28.61. Enterprise Products Partners L.P. has a one year low of $23.33 and a one year high of $30.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The company had revenue of $7.96 billion for the quarter, compared to the consensus estimate of $8.97 billion. Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. Enterprise Products Partners’s revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.4425 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.77 annualized dividend and a yield of 6.72%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 91.24%.

EPD has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Scotia Howard Weill initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $33.50.

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.

Read More: Diversification For Individual Investors

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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