CoreCap Advisors LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

CoreCap Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,743 shares of the oil and gas producer’s stock after purchasing an additional 25,379 shares during the quarter. CoreCap Advisors LLC’s holdings in Enterprise Products Partners were worth $6,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter worth about $12,866,000. Evolve Private Wealth LLC grew its position in shares of Enterprise Products Partners by 662.0% during the 1st quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock worth $5,846,000 after purchasing an additional 134,218 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $416,553,000. Markel Group Inc. bought a new position in shares of Enterprise Products Partners during the first quarter worth approximately $7,644,000. Finally, Baird Financial Group Inc. bought a new position in shares of Enterprise Products Partners during the second quarter worth approximately $1,174,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.10 during midday trading on Thursday, hitting $36.81. The stock had a trading volume of 3,342,976 shares, compared to its average volume of 3,864,493. The company’s 50-day moving average price is $38.12 and its 200-day moving average price is $37.94. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $79.50 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. TD Cowen reiterated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Melius Research initiated coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price objective for the company. Capital One Financial began coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 target price for the company. Finally, Weiss Ratings lowered Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.