Muhlenkamp & Co. Inc. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, Holdings Channel reports. The fund purchased 16,700 shares of the oil and gas producer’s stock, valued at approximately $443,000.
A number of other institutional investors and hedge funds have also modified their holdings of EPD. Ffcm LLC acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $112,000. Global Trust Asset Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $123,000. Vigilant Capital Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $126,000. Johnson Financial Group Inc. lifted its stake in Enterprise Products Partners by 315.8% in the fourth quarter. Johnson Financial Group Inc. now owns 5,256 shares of the oil and gas producer’s stock valued at $140,000 after buying an additional 3,992 shares during the period. Finally, First Dallas Securities Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $143,000. 36.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on EPD. Seaport Global Securities raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday. Stifel Nicolaus upped their target price on Enterprise Products Partners from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, November 14th. Bank of America began coverage on Enterprise Products Partners in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.39.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Enterprise Products Partners had a return on equity of 12.52% and a net margin of 9.57%. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. Enterprise Products Partners’s revenue was up 30.1% compared to the same quarter last year. analysts forecast that Enterprise Products Partners L.P. will post 1.52 EPS for the current fiscal year.
In related news, CEO Aj Teague purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was acquired at an average price of $24.86 per share, for a total transaction of $497,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.50% of the company’s stock.
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About Enterprise Products Partners
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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