Enterprise Products Partners L.P. (NYSE:EPD) Stake Lessened by MUFG Americas Holdings Corp

MUFG Americas Holdings Corp cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,275 shares of the oil and gas producer’s stock after selling 2,177 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Enterprise Products Partners L.P. were worth $1,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EPD. BlackRock Inc. lifted its stake in Enterprise Products Partners L.P. by 5,083.2% during the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after purchasing an additional 3,163,753 shares during the last quarter. 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.

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Several equities research analysts have weighed in on EPD shares. BMO Capital Markets set a $33.00 target price on Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research report on Monday, June 5th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Enterprise Products Partners L.P. in a report on Friday, August 11th. Scotiabank set a $33.00 price target on Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Friday, July 21st. 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. Finally, BidaskClub raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target 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 stock has a 50-day moving average of $26.08 and a 200 day moving average of $26.95. The company has a market cap of $56.08 billion, a price-to-earnings ratio of 20.54 and a beta of 0.90.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 12.04% and a net margin of 10.28%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post $1.35 earnings per share for the current fiscal year.

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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