Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Kings Path Partners LLC

Kings Path Partners LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.6% in the fourth quarter, HoldingsChannel reports. The firm owned 3,836 shares of the oil and gas producer’s stock after selling 2,416 shares during the quarter. Kings Path Partners LLC’s holdings in Enterprise Products Partners were worth $120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. Truvestments Capital LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at $49,000. Finally, Eastern Bank acquired a new position in Enterprise Products Partners in the third quarter valued at $63,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.1 %

Shares of EPD stock traded up $0.35 during trading hours on Monday, reaching $32.18. The company had a trading volume of 1,975,393 shares, compared to its average volume of 2,732,331. The stock’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $29.97. The company has a market capitalization of $69.75 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

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.