Destination Wealth Management boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,001 shares of the oil and gas producer’s stock after buying an additional 115 shares during the quarter. Destination Wealth Management’s holdings in Enterprise Products Partners L.P. were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in EPD. Principal Financial Group Inc. purchased a new position in shares of Enterprise Products Partners L.P. in the second quarter valued at $143,325,000. Commonwealth Bank of Australia grew its position in shares of Enterprise Products Partners L.P. by 182.9% in the second quarter. Commonwealth Bank of Australia now owns 6,136,898 shares of the oil and gas producer’s stock valued at $166,186,000 after purchasing an additional 3,967,879 shares in the last quarter. BlackRock Inc. grew its position in shares of Enterprise Products Partners L.P. by 5,083.2% in the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock valued at $89,069,000 after purchasing an additional 3,163,753 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Enterprise Products Partners L.P. by 38.0% in the first quarter. Ameriprise Financial Inc. now owns 7,334,276 shares of the oil and gas producer’s stock valued at $202,351,000 after purchasing an additional 2,018,930 shares in the last quarter. Finally, Beach Investment Management LLC. grew its position in shares of Enterprise Products Partners L.P. by 1,922.5% in the second quarter. Beach Investment Management LLC. now owns 1,920,324 shares of the oil and gas producer’s stock valued at $52,002,000 after purchasing an additional 1,825,374 shares in the last quarter. 37.56% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on EPD. BMO Capital Markets set a $33.00 price target on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research report on Monday, June 5th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Enterprise Products Partners L.P. in a research report on Thursday, August 10th. BidaskClub upgraded Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 price target on shares of Enterprise Products Partners L.P. in a research report on Friday, July 14th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $31.00 price target (down from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.30.

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Shares of Enterprise Products Partners L.P. (NYSE EPD) opened at 25.90 on Monday. The company has a market cap of $55.63 billion, a price-to-earnings ratio of 20.38 and a beta of 0.90. Enterprise Products Partners L.P. has a 1-year low of $24.01 and a 1-year high of $30.25. The company’s 50-day moving average price is $25.99 and its 200 day moving average price is $26.89.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The business had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post $1.35 earnings per share for the current fiscal year.

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

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