Zimmer Partners LP raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2,162.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,846,525 shares of the oil and gas producer’s stock after purchasing an additional 2,720,729 shares during the quarter. Enterprise Products Partners accounts for 1.3% of Zimmer Partners LP’s holdings, making the stock its 17th largest holding. Zimmer Partners LP owned 0.13% of Enterprise Products Partners worth $69,683,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $100,000. Well Done LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $131,000. Archford Capital Strategies LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $133,000. Johnson Financial Group Inc. grew its holdings in shares of Enterprise Products Partners by 315.8% in the 4th quarter. Johnson Financial Group Inc. now owns 5,256 shares of the oil and gas producer’s stock worth $140,000 after acquiring an additional 3,992 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in Enterprise Products Partners by 78.5% during the 1st quarter. Manchester Capital Management LLC now owns 6,017 shares of the oil and gas producer’s stock valued at $147,000 after buying an additional 2,647 shares during the last quarter. Institutional investors own 36.50% of the company’s stock.
EPD has been the topic of several analyst reports. UBS Group restated a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of Enterprise Products Partners in a report on Friday, March 2nd. Barclays set a $30.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Saturday, March 10th. Bank of America cut their price objective on Enterprise Products Partners from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Seaport Global Securities set a $27.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Monday, April 9th. Finally, Deutsche Bank began coverage on Enterprise Products Partners in a research report on Thursday, April 19th. They set a “buy” rating and a $31.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $31.15.
NYSE EPD opened at $27.67 on Friday. Enterprise Products Partners L.P. has a 1 year low of $23.10 and a 1 year high of $29.65. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $59.56 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 5.78 and a beta of 0.85.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 30th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.32 billion. Enterprise Products Partners had a net margin of 9.41% and a return on equity of 12.95%. During the same period in the previous year, the company posted $0.36 EPS. analysts anticipate that Enterprise Products Partners L.P. will post 1.59 EPS for the current year.
About Enterprise Products Partners
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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