First City Capital Management Inc. Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

First City Capital Management Inc. lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 57.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,541 shares of the oil and gas producer’s stock after buying an additional 4,232 shares during the quarter. First City Capital Management Inc.’s holdings in Enterprise Products Partners were worth $362,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Modus Advisors LLC lifted its holdings in Enterprise Products Partners by 5.6% in the fourth quarter. Modus Advisors LLC now owns 20,561 shares of the oil and gas producer’s stock worth $645,000 after purchasing an additional 1,099 shares during the period. Versant Capital Management Inc lifted its stake in Enterprise Products Partners by 10.7% during the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 340 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Enterprise Products Partners by 16.2% during the third quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after buying an additional 21,834 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Enterprise Products Partners by 20.0% during the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock valued at $1,460,000 after acquiring an additional 8,361 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EPD shares. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note 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. 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 report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Trading Up 0.3 %

Shares of NYSE EPD traded up $0.09 during mid-day trading on Friday, hitting $31.84. The company’s stock had a trading volume of 1,810,728 shares, compared to its average volume of 2,572,906. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company’s fifty day simple moving average is $31.35 and its 200-day simple moving average is $29.92. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63.

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

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.