Northern Financial Advisors Inc Has $902,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Northern Financial Advisors Inc cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,224 shares of the oil and gas producer’s stock after selling 1,044 shares during the quarter. Northern Financial Advisors Inc’s holdings in Enterprise Products Partners were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EPD. Rational Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $43,000. Financial Gravity Asset Management Inc. bought a new stake in Enterprise Products Partners in the third quarter worth approximately $48,000. Community Bank N.A. increased its stake in shares of Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $53,000. Finally, Headinvest LLC acquired a new position in Enterprise Products Partners during the third quarter worth $62,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EPD. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.08 on Wednesday, reaching $28.43. The company’s stock had a trading volume of 1,353,393 shares, compared to its average volume of 4,940,312. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a market cap of $61.64 billion, a PE ratio of 11.13 and a beta of 1.02. The business has a 50-day moving average price of $28.68 and a 200 day moving average price of $27.36.

Enterprise Products Partners (NYSE:EPD) last issued its 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 analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.