Signature Financial Management Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, Holdings Channel reports. The fund bought 20,866 shares of the oil and gas producer’s stock, valued at approximately $576,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Evanson Asset Management LLC boosted its stake in Enterprise Products Partners L.P. by 1.0% in the first quarter. Evanson Asset Management LLC now owns 110,131 shares of the oil and gas producer’s stock worth $3,041,000 after buying an additional 1,110 shares in the last quarter. North American Management Corp boosted its stake in Enterprise Products Partners L.P. by 6.1% in the first quarter. North American Management Corp now owns 175,930 shares of the oil and gas producer’s stock worth $4,857,000 after buying an additional 10,121 shares in the last quarter. Whalerock Point Partners LLC boosted its stake in Enterprise Products Partners L.P. by 8.9% in the fourth quarter. Whalerock Point Partners LLC now owns 77,130 shares of the oil and gas producer’s stock worth $2,086,000 after buying an additional 6,280 shares in the last quarter. Comerica Bank boosted its stake in Enterprise Products Partners L.P. by 9.5% in the fourth quarter. Comerica Bank now owns 53,883 shares of the oil and gas producer’s stock worth $1,476,000 after buying an additional 4,670 shares in the last quarter. Finally, Ibex Wealth Advisors bought a new stake in Enterprise Products Partners L.P. during the fourth quarter worth approximately $2,076,000. 38.56% of the stock is owned by institutional investors and hedge funds.

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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) opened at 26.60 on Tuesday. The firm’s 50-day moving average is $26.93 and its 200-day moving average is $27.38. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25. The firm has a market capitalization of $56.83 billion, a price-to-earnings ratio of 21.54 and a beta of 0.91.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Enterprise Products Partners L.P. had a net margin of 10.31% and a return on equity of 11.73%. Enterprise Products Partners L.P.’s revenue was up 46.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post $1.42 EPS for the current fiscal year.

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A number of analysts have recently commented on EPD shares. Scotiabank reissued a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research note on Sunday, March 12th. Jefferies Group LLC reissued a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research note on Tuesday, April 4th. Sanford C. Bernstein started coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday, May 16th. They set an “outperform” rating for the company. Guggenheim started coverage on shares of Enterprise Products Partners L.P. in a research note on Monday, April 17th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Vetr raised shares of Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price objective for the company in a research note on Monday, April 24th. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.00.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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