L & S Advisors Inc Lowers Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

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L & S Advisors Inc cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,010 shares of the oil and gas producer’s stock after selling 12,056 shares during the period. L & S Advisors Inc’s holdings in Enterprise Products Partners were worth $2,425,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EPD. KMG Fiduciary Partners LLC lifted its holdings in Enterprise Products Partners by 3.6% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 9,826 shares of the oil and gas producer’s stock worth $284,000 after buying an additional 341 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in Enterprise Products Partners by 1.2% in the 2nd quarter. Gryphon Financial Partners LLC now owns 28,952 shares of the oil and gas producer’s stock worth $836,000 after buying an additional 355 shares in the last quarter. Heritage Wealth Advisors lifted its holdings in Enterprise Products Partners by 0.8% in the 2nd quarter. Heritage Wealth Advisors now owns 46,261 shares of the oil and gas producer’s stock worth $1,336,000 after buying an additional 362 shares in the last quarter. Allred Capital Management LLC lifted its holdings in Enterprise Products Partners by 1.1% in the 2nd quarter. Allred Capital Management LLC now owns 35,005 shares of the oil and gas producer’s stock worth $1,015,000 after buying an additional 371 shares in the last quarter. Finally, Riverstone Advisors LLC lifted its holdings in Enterprise Products Partners by 4.2% in the 1st quarter. Riverstone Advisors LLC now owns 10,008 shares of the oil and gas producer’s stock worth $291,000 after buying an additional 400 shares in the last quarter. 37.23% of the stock is owned by hedge funds and other institutional investors.

EPD has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. Scotia Howard Weill initiated coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, August 26th. Finally, ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.71.

In other Enterprise Products Partners news, Director Murray E. Brasseux acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now directly owns 17,885 shares in the company, valued at $536,550. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.50% of the company’s stock.

Shares of Enterprise Products Partners stock traded down $0.04 during trading on Friday, reaching $28.65. The company had a trading volume of 368,636 shares, compared to its average volume of 2,927,757. The company has a market cap of $62.85 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 3.29 and a beta of 0.87. The firm’s fifty day moving average is $28.84 and its 200-day moving average is $28.89. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business 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 company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.18 EPS for the current fiscal year.

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. 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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