CoreCap Advisors LLC Buys 19,196 Shares of Enterprise Products Partners L.P. $EPD

CoreCap Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 17.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,594 shares of the oil and gas producer’s stock after purchasing an additional 19,196 shares during the period. CoreCap Advisors LLC’s holdings in Enterprise Products Partners were worth $4,115,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantum Financial Planning Services Inc. bought a new position in Enterprise Products Partners during the second quarter valued at $310,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after buying an additional 9,979 shares in the last quarter. Westbourne Investment Advisors Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $657,000. Bridges Investment Management Inc. lifted its holdings in shares of Enterprise Products Partners by 5.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 203,738 shares of the oil and gas producer’s stock valued at $6,318,000 after acquiring an additional 11,375 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Enterprise Products Partners by 1.6% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock worth $60,702,000 after acquiring an additional 31,652 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.1%

NYSE EPD opened at $31.70 on Thursday. The stock has a market cap of $68.57 billion, a PE ratio of 11.96, a PEG ratio of 2.23 and a beta of 0.59. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.53. The company’s 50-day moving average price is $31.92 and its 200-day moving average price is $31.59. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its Board of Directors has authorized a stock buyback program on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective on the stock. in a research report on Thursday, December 18th. Citigroup reissued a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.