Larson Financial Group LLC Sells 11,306 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Larson Financial Group LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 38.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,067 shares of the oil and gas producer's stock after selling 11,306 shares during the quarter. Larson Financial Group LLC's holdings in Enterprise Products Partners were worth $617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EPD. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $31,000. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $30,000. Finally, National Bank of Canada FI grew its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective on the stock. Finally, Scotiabank upped 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 research note on Thursday, June 5th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.36.

Enterprise Products Partners Stock Up 0.4%

Shares of EPD stock traded up $0.13 on Friday, hitting $31.37. The stock had a trading volume of 3,712,011 shares, compared to its average volume of 4,479,093. The business has a 50 day moving average of $31.50 and a 200 day moving average of $32.10. The stock has a market cap of $68.04 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. Enterprise Products Partners's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.545 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

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.