Toroso Investments LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,052 shares of the oil and gas producer’s stock, valued at approximately $347,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. purchased a new position in Enterprise Products Partners in the second quarter valued at about $29,000. Centersquare Investment Management LLC purchased a new position in Enterprise Products Partners in the second quarter valued at about $34,000. TRUE Private Wealth Advisors purchased a new position in Enterprise Products Partners in the second quarter valued at about $41,000. TCG Advisors LP purchased a new position in Enterprise Products Partners in the first quarter valued at about $44,000. Finally, Bremer Bank National Association purchased a new position in Enterprise Products Partners in the first quarter valued at about $57,000. Hedge funds and other institutional investors own 36.58% of the company’s stock.
A number of analysts recently commented on the stock. Scotia Howard Weill assumed coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They set an “outperform” rating on the stock. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price target 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 price target on the stock. in a research note on Monday, August 26th. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.71.
NYSE EPD traded down $0.37 on Tuesday, hitting $28.89. The stock had a trading volume of 5,497,153 shares, compared to its average volume of 3,967,913. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week high of $30.86. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The company has a market capitalization of $63.24 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 3.34 and a beta of 0.87. The firm has a 50-day moving average of $28.60 and a 200-day moving average of $28.94.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.57 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current fiscal year.
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. 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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