Grand Jean Capital Management Inc. Has $15.50 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Grand Jean Capital Management Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 819.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 536,954 shares of the oil and gas producer’s stock after purchasing an additional 478,559 shares during the period. Enterprise Products Partners comprises 6.3% of Grand Jean Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Grand Jean Capital Management Inc.’s holdings in Enterprise Products Partners were worth $15,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. ERTS Wealth Advisors LLC boosted its stake in Enterprise Products Partners by 12.0% in the second quarter. ERTS Wealth Advisors LLC now owns 14,120 shares of the oil and gas producer’s stock valued at $408,000 after acquiring an additional 1,510 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 4.9% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 33,241 shares of the oil and gas producer’s stock valued at $960,000 after buying an additional 1,560 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Enterprise Products Partners by 6.8% during the 2nd quarter. Wesbanco Bank Inc. now owns 20,292 shares of the oil and gas producer’s stock valued at $586,000 after buying an additional 1,300 shares in the last quarter. Bowen Hanes & Co. Inc. lifted its stake in shares of Enterprise Products Partners by 0.4% during the 2nd quarter. Bowen Hanes & Co. Inc. now owns 394,026 shares of the oil and gas producer’s stock valued at $11,376,000 after buying an additional 1,730 shares in the last quarter. Finally, RMB Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $4,082,000. 37.23% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently commented on EPD. ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, August 26th. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 target price on the stock. Finally, Scotia Howard Weill assumed coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.71.



In related news, Director Murray E. Brasseux purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, with a total value of $150,000.00. Following the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.50% of the stock is owned by corporate insiders.

Shares of NYSE:EPD traded up $0.02 during trading on Friday, reaching $28.70. The company had a trading volume of 700,537 shares, compared to its average volume of 2,927,757. The company has a fifty day moving average of $28.84 and a two-hundred day moving average of $28.89. The stock has a market capitalization of $62.85 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 3.29 and a beta of 0.87. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current year.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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