Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Birch Capital Management LLC

Birch Capital Management LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,540 shares of the oil and gas producer’s stock after acquiring an additional 465 shares during the quarter. Enterprise Products Partners accounts for approximately 2.7% of Birch Capital Management LLC’s portfolio, making the stock its 13th largest holding. Birch Capital Management LLC’s holdings in Enterprise Products Partners were worth $5,285,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners during the third quarter worth about $2,628,000. FMR LLC grew its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp raised its holdings in Enterprise Products Partners by 61.7% during 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 purchasing an additional 51,809 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brookfield Corp ON increased its position in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.19 during mid-day trading on Tuesday, reaching $32.12. The company had a trading volume of 1,741,592 shares, compared to its average volume of 2,915,412. The company has a 50 day moving average of $31.46 and a 200-day moving average of $29.99. Enterprise Products Partners L.P. has a 52 week low of $26.12 and a 52 week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $69.62 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.67 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. US Capital Advisors upgraded 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 report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered shares of 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 note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.