Financial Management Professionals Inc. Sells 2,814 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Financial Management Professionals Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 51.1% in the second quarter, Holdings Channel reports. The fund owned 2,693 shares of the oil and gas producer’s stock after selling 2,814 shares during the quarter. Financial Management Professionals Inc.’s holdings in Enterprise Products Partners were worth $71,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heritage Wealth Management LLC acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $25,000. Ellevest Inc. acquired a new stake in Enterprise Products Partners in the first quarter valued at $25,000. WealthPLAN Partners LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at $25,000. Pacific Center for Financial Services acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $27,000. Finally, Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $31,000. 26.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Securities decreased their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Mizuho increased their price target on Enterprise Products Partners from $32.00 to $33.00 in a report on Wednesday, July 19th. StockNews.com initiated coverage on Enterprise Products Partners in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Morgan Stanley restated an “equal weight” rating and issued a $33.00 target price on shares of Enterprise Products Partners in a research note on Thursday, July 20th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.70.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $27.01 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $58.66 billion, a PE ratio of 10.94 and a beta of 1.08. The firm has a fifty day simple moving average of $26.67 and a two-hundred day simple moving average of $26.24. Enterprise Products Partners L.P. has a twelve month low of $22.90 and a twelve month high of $27.28.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The business had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $12.34 billion. Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The business’s revenue for the quarter was down 33.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.52 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.40%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio is 80.97%.

Insider Activity

In related news, Director William C. Montgomery purchased 50,000 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $26.60 per share, for a total transaction of $1,330,000.00. Following the completion of the transaction, the director now directly owns 114,758 shares of the company’s stock, valued at $3,052,562.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners 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.