Enterprise Products Partners L.P. (EPD) Shares Sold by Lido Advisors LLC
Lido Advisors LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,764 shares of the oil and gas producer’s stock after selling 1,066 shares during the quarter. Lido Advisors LLC’s holdings in Enterprise Products Partners were worth $805,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in EPD. Trust Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 2,608.2% in the third quarter. Trust Asset Management LLC now owns 7,802,034 shares of the oil and gas producer’s stock valued at $103,000 after buying an additional 7,513,942 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Enterprise Products Partners by 3,877.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,367,467 shares of the oil and gas producer’s stock worth $125,478,000 after purchasing an additional 4,257,649 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in Enterprise Products Partners by 7.2% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock worth $1,214,143,000 after purchasing an additional 2,841,648 shares during the period. BlackRock Inc. increased its position in Enterprise Products Partners by 14.3% in the fourth quarter. BlackRock Inc. now owns 15,304,914 shares of the oil and gas producer’s stock worth $376,347,000 after purchasing an additional 1,912,588 shares during the period. Finally, Morgan Stanley increased its position in Enterprise Products Partners by 8.1% in the third quarter. Morgan Stanley now owns 19,671,087 shares of the oil and gas producer’s stock worth $565,149,000 after purchasing an additional 1,472,976 shares during the period. 36.85% of the stock is owned by institutional investors and hedge funds.
In other Enterprise Products Partners news, CEO Aj Teague acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average price of $24.36 per share, for a total transaction of $243,600.00. Following the acquisition, the chief executive officer now directly owns 1,654,372 shares of the company’s stock, valued at approximately $40,300,501.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 30,000 shares of company stock worth $733,300 in the last quarter. 37.50% of the stock is currently owned by company insiders.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the business posted $0.36 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 1.92 EPS for the current year.
A number of analysts recently commented on the company. Evercore ISI assumed coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. Zacks Investment Research lowered Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Bank of America set a $32.00 price objective on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Citigroup lowered their price objective on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Finally, Mizuho assumed coverage on Enterprise Products Partners in a research report on Wednesday, November 28th. They issued a “buy” rating and a $33.00 price objective for the company. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $32.41.
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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.
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