Taylor Wealth Management Partners lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 59.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,450 shares of the oil and gas producer’s stock after selling 31,390 shares during the period. Taylor Wealth Management Partners’ holdings in Enterprise Products Partners were worth $527,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in EPD. Highwater Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $38,000. Paradigm Asset Management Co. LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $49,000. Trust Asset Management LLC boosted its stake 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 in the last quarter. Arlington Partners LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $115,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Enterprise Products Partners by 640.1% in the fourth quarter. Sound Income Strategies LLC now owns 5,203 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 4,500 shares in the last quarter. 37.27% of the stock is currently owned by institutional investors and hedge funds.
EPD traded down $0.11 during trading on Monday, reaching $26.92. 483,377 shares of the stock were exchanged, compared to its average volume of 7,957,453. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.70. The company has a market cap of $58.74 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 4.74 and a beta of 0.83. Enterprise Products Partners L.P. has a 1 year low of $23.10 and a 1 year high of $30.05.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.15. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.72 billion. Enterprise Products Partners had a return on equity of 16.28% and a net margin of 10.23%. Enterprise Products Partners’s quarterly revenue was up 39.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 1.87 EPS for the current fiscal year.
In related news, CEO Aj Teague acquired 10,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average cost of $24.36 per share, for a total transaction of $243,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,372 shares of the company’s stock, valued at $40,300,501.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James T. Hackett sold 25,000 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $26.94, for a total value of $673,500.00. Following the completion of the sale, the director now owns 226,832 shares in the company, valued at $6,110,854.08. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 55,005 shares of company stock worth $1,390,132. 37.50% of the stock is owned by company insiders.
A number of analysts recently weighed in on EPD shares. Bank of America set a $35.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Thursday, November 1st. Wells Fargo & Co lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Barclays set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Friday, October 12th. Citigroup decreased their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. Finally, ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.84.
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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.
Further Reading: Preferred Stock
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