Westwood Holdings Group Inc. decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,108,440 shares of the oil and gas producer’s stock after selling 953,593 shares during the quarter. Westwood Holdings Group Inc. owned 0.10% of Enterprise Products Partners worth $60,871,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Mcmillion Capital Management Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $29,000. Centersquare Investment Management LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $34,000. TRUE Private Wealth Advisors acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $41,000. TCG Advisors LP acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $44,000. Finally, Bremer Bank National Association acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $57,000. 36.58% of the stock is currently owned by hedge funds and other institutional investors.
EPD stock traded up $0.28 during midday trading on Friday, reaching $29.08. 215,937 shares of the company were exchanged, compared to its average volume of 3,218,882. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $23.33 and a 1-year high of $30.86. The stock’s 50-day simple moving average is $28.66 and its 200 day simple moving average is $28.92. The company has a market cap of $63.35 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 3.32 and a beta of 0.87.
Several analysts recently weighed in on EPD shares. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Scotia Howard Weill started coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating on the stock. Piper Jaffray Companies started coverage on shares of Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. Johnson Rice started coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Scotiabank started coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.71.
In other Enterprise Products Partners news, Director Murray E. Brasseux bought 5,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 17,885 shares in the company, valued at approximately $536,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.50% of the company’s stock.
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.
Further Reading: Sell-Side Analysts
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