Enterprise Products Partners L.P. $EPD Shares Acquired by Hardy Reed LLC

Hardy Reed LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,806 shares of the oil and gas producer’s stock after acquiring an additional 386 shares during the quarter. Hardy Reed LLC’s holdings in Enterprise Products Partners were worth $521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in shares of Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after purchasing an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. lifted its holdings in Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after buying an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after buying an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $290,000. Finally, Corigliano Investment Advisers LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $4,384,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In related news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Barclays reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Stifel Nicolaus dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Scotiabank cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Trading Down 0.4%

Shares of Enterprise Products Partners stock opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market capitalization of $68.25 billion, a P/E ratio of 11.72, a PEG ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company’s fifty day moving average is $31.57 and its two-hundred day moving average is $31.43.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was down 15.7% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Company 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.