Parametric Portfolio Associates LLC Sells 30,470 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Parametric Portfolio Associates LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,349,444 shares of the oil and gas producer’s stock after selling 30,470 shares during the period. Parametric Portfolio Associates LLC’s holdings in Enterprise Products Partners were worth $38,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TCG Advisors LP grew its position in shares of Enterprise Products Partners by 40.0% in the 2nd quarter. TCG Advisors LP now owns 2,100 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 600 shares during the last quarter. Beck Mack & Oliver LLC grew its position in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Beck Mack & Oliver LLC now owns 2,128,334 shares of the oil and gas producer’s stock valued at $61,445,000 after buying an additional 122,883 shares during the last quarter. MML Investors Services LLC grew its position in shares of Enterprise Products Partners by 8.5% in the 2nd quarter. MML Investors Services LLC now owns 65,388 shares of the oil and gas producer’s stock valued at $1,888,000 after buying an additional 5,127 shares during the last quarter. LLBH Private Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $504,000. Finally, Pinnacle Financial Partners Inc. grew its position in shares of Enterprise Products Partners by 5.5% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 47,275 shares of the oil and gas producer’s stock valued at $1,364,000 after buying an additional 2,453 shares during the last quarter. Hedge funds and other institutional investors own 36.58% of the company’s stock.

In other Enterprise Products Partners news, Director Murray E. Brasseux acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $30.00 per share, with a total value of $150,000.00. Following the purchase, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.50% of the stock is owned by insiders.

Shares of NYSE:EPD traded up $0.43 during midday trading on Monday, reaching $28.96. The company’s stock had a trading volume of 248,048 shares, compared to its average volume of 3,024,534. The firm has a market capitalization of $62.78 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.28 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The firm has a 50 day moving average price of $28.81 and a two-hundred day moving average price of $28.89. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current year.

A number of research firms have commented on EPD. Scotiabank began coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada began coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Piper Jaffray Companies started coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.71.

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

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