Zimmer Partners LP increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 21.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,733,025 shares of the oil and gas producer’s stock after buying an additional 825,089 shares during the period. Enterprise Products Partners accounts for approximately 1.6% of Zimmer Partners LP’s holdings, making the stock its 16th biggest holding. Zimmer Partners LP’s holdings in Enterprise Products Partners were worth $116,385,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its position in Enterprise Products Partners by 43.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 414,850 shares of the oil and gas producer’s stock worth $11,919,000 after buying an additional 126,075 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Enterprise Products Partners by 192.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,386 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 6,836 shares during the last quarter. Portfolio Solutions LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth about $103,000. Matthew Goff Investment Advisor LLC bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $5,389,000. Finally, Dock Street Asset Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth about $207,000. Institutional investors and hedge funds own 36.75% of the company’s stock.
In other Enterprise Products Partners news, CEO Aj Teague bought 10,000 shares of the stock in a transaction that occurred on Monday, December 31st. The stock was acquired at an average cost of $24.36 per share, with a total value of $243,600.00. Following the purchase, the chief executive officer now owns 1,654,372 shares in the company, valued at $40,300,501.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 30,000 shares of company stock valued at $733,300. 37.50% of the stock is owned by company insiders.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. Enterprise Products Partners had a return on equity of 18.13% and a net margin of 11.42%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period in the prior year, the business earned $0.36 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 1.92 EPS for the current year.
A number of analysts have recently commented on EPD shares. Citigroup lowered their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Mizuho started coverage on Enterprise Products Partners in a research note on Wednesday, November 28th. They issued a “buy” rating and a $33.00 price target for the company. Bank of America set a $32.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Tuesday, January 29th. ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Evercore ISI started coverage on Enterprise Products Partners in a research note on Tuesday, February 5th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $32.41.
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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. 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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