Ironsides Asset Advisors LLC Takes $808,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Ironsides Asset Advisors LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,855 shares of the oil and gas producer’s stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Enterprise Products Partners L.P. by 5,083.2% in the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after buying an additional 3,163,753 shares during the period. Ameriprise Financial Inc. increased its position in Enterprise Products Partners L.P. by 38.0% in the first quarter. Ameriprise Financial Inc. now owns 7,334,276 shares of the oil and gas producer’s stock worth $202,351,000 after buying an additional 2,018,930 shares during the period. Beach Investment Management LLC. increased its position in Enterprise Products Partners L.P. by 1,922.5% in the second quarter. Beach Investment Management LLC. now owns 1,920,324 shares of the oil and gas producer’s stock worth $52,002,000 after buying an additional 1,825,374 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in Enterprise Products Partners L.P. by 3.9% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 41,667,941 shares of the oil and gas producer’s stock worth $1,128,368,000 after buying an additional 1,573,553 shares during the period. Finally, Epoch Investment Partners Inc. increased its position in Enterprise Products Partners L.P. by 24.2% in the first quarter. Epoch Investment Partners Inc. now owns 7,138,017 shares of the oil and gas producer’s stock worth $197,080,000 after buying an additional 1,389,424 shares during the period. Hedge funds and other institutional investors own 37.85% of the company’s stock.

EPD has been the topic of a number of research analyst reports. Jefferies Group LLC lowered their price target on Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 1st. BidaskClub raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Barclays PLC reissued an “overweight” rating and set a $31.00 price target (down from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a report on Friday, July 14th. Finally, Morgan Stanley raised Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $26.37 to $26.50 in a report on Thursday, June 15th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $31.39.

Shares of Enterprise Products Partners L.P. (NYSE EPD) traded down 0.27% during midday trading on Friday, reaching $26.11. The company’s stock had a trading volume of 439,903 shares. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The company has a market cap of $56.08 billion, a price-to-earnings ratio of 20.54 and a beta of 0.90. The stock has a 50-day moving average of $26.08 and a 200 day moving average of $26.95.

Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post $1.35 earnings per share for the current fiscal year.

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Enterprise Products Partners L.P. Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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