DAVENPORT & Co LLC Acquires 4,567 Shares of Enterprise Products Partners L.P. $EPD

DAVENPORT & Co LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 339,492 shares of the oil and gas producer’s stock after buying an additional 4,567 shares during the period. DAVENPORT & Co LLC’s holdings in Enterprise Products Partners were worth $10,532,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the first quarter worth about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $29,000. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $31,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $31.52 on Tuesday. The stock’s 50 day moving average is $31.57 and its 200 day moving average is $31.43. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The firm has a market cap of $68.25 billion, a P/E ratio of 11.72, a P/E/G ratio of 2.25 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Barclays decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Stifel Nicolaus dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

About Enterprise Products Partners

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.