Ladenburg Thalmann Financial Services Inc. trimmed its position in shares of Enterprise Products (NYSE:EPD) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,721 shares of the oil and gas producer’s stock after selling 4,607 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Enterprise Products were worth $7,257,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northeast Financial Consultants Inc raised its holdings in Enterprise Products by 16.2% in the fourth quarter. Northeast Financial Consultants Inc now owns 142,500 shares of the oil and gas producer’s stock worth $3,777,000 after purchasing an additional 19,900 shares during the period. NWQ Investment Management Company LLC raised its holdings in shares of Enterprise Products by 8.3% during the fourth quarter. NWQ Investment Management Company LLC now owns 856,526 shares of the oil and gas producer’s stock worth $22,707,000 after acquiring an additional 65,306 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Enterprise Products during the fourth quarter worth $268,000. Muhlenkamp & Co. Inc. acquired a new stake in shares of Enterprise Products during the fourth quarter worth $443,000. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Enterprise Products by 1.2% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 32,838,364 shares of the oil and gas producer’s stock worth $870,526,000 after acquiring an additional 405,354 shares during the period. 36.32% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on EPD shares. UBS reaffirmed a “buy” rating and issued a $34.00 target price (down previously from $36.00) on shares of Enterprise Products in a research report on Friday, March 2nd. Credit Suisse Group began coverage on shares of Enterprise Products in a research report on Thursday, January 4th. They issued an “outperform” rating and a $31.00 target price for the company. Bank of America began coverage on shares of Enterprise Products in a research report on Tuesday, January 9th. They issued a “buy” rating for the company. Stifel Nicolaus lifted their price objective on shares of Enterprise Products from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Seaport Global Securities raised shares of Enterprise Products from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Thursday, March 8th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Enterprise Products presently has an average rating of “Buy” and a consensus target price of $31.18.
EPD stock traded down $0.20 during trading on Friday, reaching $24.22. 4,434,452 shares of the company were exchanged, compared to its average volume of 8,178,918. Enterprise Products has a twelve month low of $23.10 and a twelve month high of $29.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.70 and a quick ratio of 0.53. The stock has a market cap of $52,341.72, a price-to-earnings ratio of 18.35, a P/E/G ratio of 3.87 and a beta of 0.84.
Enterprise Products (NYSE:EPD) last released its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Enterprise Products had a net margin of 9.57% and a return on equity of 12.52%. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the company earned $0.31 EPS. Enterprise Products’s quarterly revenue was up 30.1% compared to the same quarter last year. equities research analysts anticipate that Enterprise Products will post 1.55 EPS for the current fiscal year.
In other Enterprise Products news, CEO Aj Teague acquired 24,665 shares of the stock in a transaction on Thursday, March 29th. The shares were purchased at an average price of $24.54 per share, for a total transaction of $605,279.10. Following the completion of the acquisition, the chief executive officer now owns 1,616,790 shares in the company, valued at approximately $39,676,026.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 37.50% of the company’s stock.
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About Enterprise Products
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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