On September 12, 2023, it was reported that Asset Allocation Strategies LLC had reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 22.3% in the first quarter of the year. This information was disclosed in the company’s most recent filing with the Securities and Exchange Commission (SEC). According to the filing, Asset Allocation Strategies LLC sold 8,385 shares of the oil and gas producer’s stock, leaving them with a total of 29,134 shares.
Enterprise Products Partners represents approximately 2.2% of Asset Allocation Strategies LLC’s portfolio and is currently their 19th largest holding. As of the end of the first quarter, these holdings were valued at $755,000.
Looking at Enterprise Products Partners’ recent performance, their quarterly earnings results were released on August 1st. The company reported earnings per share (EPS) of $0.57 for the quarter, falling short of analysts’ consensus estimates by $0.02. Despite missing expectations, it is important to note that Enterprise Products Partners still maintained a net margin of 10.39% and a return on equity of 19.71%.
In terms of revenue, the company generated $10.65 billion during the quarter, which was lower than the consensus estimate of $12.34 billion. Additionally, this marked a decline of 33.7% compared to the same period last year.
Analysts are projecting that Enterprise Products Partners will post earnings per share of approximately $2.52 for the current fiscal year.
Overall, these figures provide insights into Asset Allocation Strategies LLC’s decision to reduce its position in Enterprise Products Partners L.P., as well as highlight key financial data from Enterprise Products Partners’ most recent quarter-end report.
Please note that all information provided above is based on publicly available sources and should be used for informational purposes only. It is always recommended to conduct thorough research and analysis before making any investment decisions.
CrowdStrike Holdings, Inc.
CRWD
Buy
Updated on: 12/09/2023
Hedge Funds and Institutional Investors Show Interest in Enterprise Products Partners (EPD)
As financial markets continue to fluctuate and investors grapple with uncertainty, the actions of hedge funds and institutional investors are often closely monitored. Recently, there has been notable activity surrounding Enterprise Products Partners (EPD), a prominent oil and gas producer. Several hedge funds and institutional investors have bought and sold shares of EPD, indicating potential shifts in market sentiment towards the company.
Fairfield Bush & CO., for instance, purchased a new position in Enterprise Products Partners earlier this year, worth $31,000. Mirae Asset Global Investments Co. Ltd., on the other hand, increased their position in EPD by 2.6% during the first quarter. With an additional purchase of 169,059 shares, they now own a significant stake of 6,571,535 shares valued at $169,611,000.
Likewise, BlackRock Inc., one of the largest asset management firms globally, raised its position in Enterprise Products Partners by 4.7% during the same period. Their current holdings amount to an impressive 25,050,292 shares worth $646,548,000 after acquiring an additional 1,114,690 shares.
Cibc World Market Inc. also saw fit to expand its stake in EPD by 3.2% during the first quarter through an additional purchase of 2,804 shares worth $2,3070,000. Bringing up the rear is Sei Investments Co., which experienced a massive surge in holdings thanks to a blistering growth rate of 76.5%, translating into an extra 385,o08 shares now totaling 888,o39 shares valued at approximately $22,o31 million.
Notably intriguing is that approximately 26.54% of EPD’s stock is currently owned by institutional investors like these mentioned above – any investment decisions made by them can significantly impact the overall market perception and performance of Enterprise Products Partners.
Adding further interest to EPD’s current situation, a number of research analysts have recently issued reports on the company. Morgan Stanley, for instance, reissued an “equal weight” rating and maintained a price objective of $33.00 per share in their report released on July 20th. Meanwhile, TD Securities reduced their target price from $32.00 to $31.00 but kept their “buy” rating intact.
In another report by StockNews.com, Enterprise Products Partners received a favorable “buy” rating for the company’s stock. Lastly, Mizuho raised its price objective from $32.00 to $33.00 in its report published on July 19th.
Currently, three analysts have assigned a hold rating to EPD’s stock, while seven have given it a strong buy endorsement. Based on data from Bloomberg.com, the consensus rating for Enterprise Products Partners sits at “Moderate Buy,” with an average target price of $30.70.
In other news related to Enterprise Products Partners, Director William C. Montgomery acquired a substantial position when he purchased 50,o00 shares of the company’s stock on August 4th at an average cost of $26.60 per share – amounting to a total value of $1,o30,o000.o0.Revealing additional information in line with transparency guidelines set by the U.S.Secondary Market Internal Database (SEC), it was brought forth that following this acquisition Montgomery now owns approximately 114,o58 shares valued at around $3,o52,o562.o8.
It is worth mentioning that company insiders now possess 32.60% of the corporation’s entire outstanding shares.
Taking into consideration recent events and developments surrounding Enterprise Products Partners’ stock performance, it can be observed that as of September 12th ,the day marker used for reference, EPD began trading at an opening price of $26.72 – indicating slight volatility before settling at a stable level. The stock has been maintaining a 50-day simple moving average of $26.63 and a 200-day simple moving average of $26.21.
Moreover, Enterprise Products Partners L.P., with a quick ratio of 0.67 and a current ratio of 0.91, seems to be on solid ground in terms of liquidity. Additionally, the company maintains a healthy debt-to-equity ratio of 0.98, signaling its ability to manage financial obligations effectively.
Considering its 12-month performance, EPD has persisted within a range between a low point of $22.90 and a high point of $27.28 – highlighting its relative stability amidst an ever-changing market environment.
Enterprise Products Partners currently boasts an impressive market capitalization standing at $58,o03 billion USD – indicative of its widespread presence throughout the energy sector.
While uncertainty continues to stalk the global financial landscape, Enterprise Products Partners appears well-positioned to navigate the evolving dynamics within the oil and gas industry. With recent actions by hedge funds and institutional investors alongside favorable ratings from research analysts, it will be intriguing to observe EPD’s performance in the coming weeks and months ahead.
*Note: This article is purely informative and does not constitute investment advice or recommendations; any decisions about
