Private Advisor Group LLC Grows Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Private Advisor Group LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 330,597 shares of the oil and gas producer’s stock after purchasing an additional 7,305 shares during the quarter. Private Advisor Group LLC’s holdings in Enterprise Products Partners were worth $9,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Accordant Advisory Group Inc bought a new position in shares of Enterprise Products Partners during the 1st quarter worth $26,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $29,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $48,000. Finally, Livelsberger Financial Advisory bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $49,000. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Truist Financial increased their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Trading Down 0.2 %

Shares of NYSE:EPD traded down $0.05 during trading on Friday, reaching $29.01. 2,424,177 shares of the company traded hands, compared to its average volume of 4,435,252. The firm has a market capitalization of $63.00 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.35 and a beta of 1.04. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average is $28.52 and its 200-day moving average is $27.95.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

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