On September 24, 2023, it was reported that Teamwork Financial Advisors LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.8% during the second quarter. According to its most recent Form 13F filing with the Securities & Exchange Commission, the institutional investor sold 12,764 shares of the oil and gas producer’s stock, resulting in a total ownership of 250,542 shares at the end of the quarter.
Enterprise Products Partners accounts for approximately 1.1% of Teamwork Financial Advisors LLC’s investment portfolio, making it their 22nd largest holding. The value of their holdings in Enterprise Products Partners was $6,602,000 as of the most recent reporting period.
In recent analyst reports on Enterprise Products Partners, StockNews.com initiated coverage on the stock and issued a “buy” rating on Thursday, August 17th. Morgan Stanley reiterated an “equal weight” rating with a target price of $33.00 on Thursday, July 20th. Mizuho also increased their price target from $32.00 to $33.00 in a research report on Wednesday, July 19th. TD Securities was another firm that provided analysis on Enterprise Products Partners and adjusted their price objective to $31.00 from $32.00 while maintaining a “buy” rating on Wednesday, August 2nd.
According to Bloomberg data as of September 24th, three research analysts have rated the stock as a hold and seven have assigned a buy rating to the company. The consensus rating for Enterprise Products Partners is currently categorized as “Moderate Buy,” while the consensus price target stands at $30.70.
On Friday’s midday trading session, shares of EPD stock exhibited a slight increase of $0.14 and reached a price point of $27.39 per share. Roughly 15,765,290 shares were exchanged during the session, in comparison to its average volume of 3,113,840 shares. The company’s 50-day moving average price is $26.73, and its two-hundred day moving average price settled at $26.28. Enterprise Products Partners has a market capitalization of $59.48 billion with a P/E ratio of 11.09 and a beta of 1.08.
Over the past year, the stock has seen a range between $22.90 (12 month low) and $27.77 (12 month high). These figures combined with the recent analyst reports highlight the current position and performance of Enterprise Products Partners L.P., providing investors with valuable insights for their decision-making process and investment strategies in the energy sector.
Enterprise Products Partners L.P.
EPD
Buy
Updated on: 24/09/2023
Hedge Funds and Analysts Show Interest in Enterprise Products Partners Stocks
September 24, 2023 – In recent news, various hedge funds have made significant changes to their positions in Enterprise Products Partners. Fairfield Bush & CO. has acquired a new position by purchasing shares worth $31,000 in the first quarter. Mirae Asset Global Investments Co. Ltd. has also increased its stake in the company by 2.6% during the same period, now owning 6,571,535 shares valued at $169,611,000. Similarly, BlackRock Inc., one of the world’s largest investment management companies, has grown its position by 4.7% and currently holds 25,050,292 shares of Enterprise Products Partners’ stock worth $646,548,000.
Furthermore, Cibc World Market Inc. has raised its holdings in Enterprise Products Partners by 3.2% during the first quarter and now owns 89,367 shares valued at $2,307,000. Sei Investments Co. has also significantly boosted its stake in the company by 76.5% during the same period and now possesses 888,439 shares worth $22,931,000.
Notably, hedge funds and other institutional investors currently hold approximately 26.54% of Enterprise Products Partners’ stock.
In another development on August 4th, Director William C. Montgomery personally purchased 50,000 shares of Enterprise Products Partners’ stock at an average price of $26.60 per share for a total transaction value of $1,3300,,0000 This acquisition has brought Montgomery’s direct ownership to around-114758shares valued at approximately Batman mom session is availablethroughthislink32tothe filing withthe SEC Okay investigating further than shareholdersowej ascompany insiders hold aboutat0ercent saleofEnterpriseProduct Parents astock iniciar bier Lester ra o epd’s stoke
With regard to analyst reports concerning EPD’s performance lately’, StockNews.com initiated coverage on Enterprise Products Partners in a research note published on August 17th defending that the shares are a “buy.” Morgan Stanley, on the other hand, reiterated its “equal weight” rating and set a target price of $33.00 for Enterprise Products Partners’ stocks.
Furthermore, Mizuho increased their price target to $33.00 from $32.00 in a research report released on July 19th Another institution, TD Securities, slightly lowered their price objective for EPD’s stock from $32.00 to $31.00 while maintaining a “buy” rating for the company.
The consensus rating provided by Bloomberg states that Enterprise Products Partners currently holds a “Moderate Buy” recommendation, with the average price target at approximately $30.70.
In terms of financial performance, Enterprise Products Partners (NYSE:EPD) announced its earnings results on August 1st, where they reported an EPS of $0.57 for the quarter. Although this missed the consensus estimate by ($0.02), it is important to note that their return on equity was reported as 19.71%, and net margin stood at 10.39%. The quarter’s revenue came in at $10.65 billion compared to the anticipated figure of $12.34 billion. However, it should be noted that there was a decline of 33.7% in revenue year-over-year during this period.
Sell-side analysts have projected that Enterprise Products Partners L.P.’s earnings per share for this year will be around 2.52.
Moreover, an announcement regarding an increase in the company’s quarterly dividend was also made recently.The dividend, paid on August 14th,had arisen from its previous value of S0,… ,This signifiesan annualizeddividendof$2…,,…^ yielding returns.of T-The.present payout ratio for dividends f standsat alimpressiveB0.g7%.
