Parkside Financial Bank & Trust Sells 6,223 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Parkside Financial Bank & Trust trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,858 shares of the oil and gas producer’s stock after selling 6,223 shares during the quarter. Enterprise Products Partners comprises about 0.7% of Parkside Financial Bank & Trust’s investment portfolio, making the stock its 22nd biggest position. Parkside Financial Bank & Trust’s holdings in Enterprise Products Partners were worth $2,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Advisors Inc. OK increased its holdings in shares of Enterprise Products Partners by 7.1% in the second quarter. Capital Advisors Inc. OK now owns 21,418 shares of the oil and gas producer’s stock worth $618,000 after purchasing an additional 1,418 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 71.6% in the second quarter. Cornerstone Wealth Management LLC now owns 12,395 shares of the oil and gas producer’s stock worth $357,000 after purchasing an additional 5,171 shares during the last quarter. Smithbridge Asset Management Inc. DE increased its holdings in shares of Enterprise Products Partners by 2.3% in the second quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock worth $2,272,000 after purchasing an additional 1,775 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $63,000. Finally, Northstar Investment Advisors LLC increased its holdings in shares of Enterprise Products Partners by 1.2% in the third quarter. Northstar Investment Advisors LLC now owns 216,677 shares of the oil and gas producer’s stock worth $6,177,000 after purchasing an additional 2,548 shares during the last quarter. 36.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:EPD traded down $0.10 during trading hours on Friday, hitting $26.33. 4,099,607 shares of the company’s stock traded hands, compared to its average volume of 4,042,235. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The business has a fifty day moving average price of $27.64 and a 200-day moving average price of $28.61. The firm has a market capitalization 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. 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 announced 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). Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The business had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.4425 per share. This represents a $1.77 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s payout ratio is 91.24%.

Several equities research analysts have recently issued reports on EPD shares. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada started coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. Piper Jaffray Companies started coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target for the company. Scotiabank started coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. Finally, ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.50.

Enterprise Products Partners Company Profile

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.

Further Reading: What is the quiet period?

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

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