Washington Trust Bank Acquires Shares of 6,129 Enterprise Products Partners L.P. (NYSE:EPD)

Washington Trust Bank purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,129 shares of the oil and gas producer’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $30,000. Security National Bank purchased a new stake in Enterprise Products Partners during the first quarter worth about $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners during the first quarter worth about $31,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.5%

EPD opened at $31.34 on Tuesday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a fifty day moving average price of $31.26 and a 200-day moving average price of $32.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market capitalization of $67.97 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on EPD shares. Citigroup decreased their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

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