Enterprise Products Partners L.P. (NYSE:EPD) is Grand Jean Capital Management Inc.’s 6th Largest Position

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Grand Jean Capital Management Inc. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 819.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 536,954 shares of the oil and gas producer’s stock after purchasing an additional 478,559 shares during the period. Enterprise Products Partners accounts for about 6.3% of Grand Jean Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Grand Jean Capital Management Inc.’s holdings in Enterprise Products Partners were worth $15,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. ERTS Wealth Advisors LLC lifted its position in Enterprise Products Partners by 12.0% during the 2nd quarter. ERTS Wealth Advisors LLC now owns 14,120 shares of the oil and gas producer’s stock valued at $408,000 after acquiring an additional 1,510 shares during the period. Laurel Wealth Advisors Inc. lifted its position in Enterprise Products Partners by 4.9% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 33,241 shares of the oil and gas producer’s stock valued at $960,000 after acquiring an additional 1,560 shares during the period. Wesbanco Bank Inc. lifted its position in Enterprise Products Partners by 6.8% during the 2nd quarter. Wesbanco Bank Inc. now owns 20,292 shares of the oil and gas producer’s stock valued at $586,000 after acquiring an additional 1,300 shares during the period. Bowen Hanes & Co. Inc. lifted its position in Enterprise Products Partners by 0.4% during the 2nd quarter. Bowen Hanes & Co. Inc. now owns 394,026 shares of the oil and gas producer’s stock valued at $11,376,000 after acquiring an additional 1,730 shares during the period. Finally, RMB Capital Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $4,082,000. 37.23% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Murray E. Brasseux acquired 5,000 shares of Enterprise Products Partners stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 17,885 shares in the company, valued at $536,550. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by company insiders.

A number of brokerages recently issued reports on EPD. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. Piper Jaffray Companies began coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price target for the company. Scotia Howard Weill began coverage on shares of Enterprise Products Partners in a research report on Wednesday, September 4th. They set an “outperform” rating for the company. Johnson Rice began coverage on shares of Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price target for the company. Finally, ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.71.

NYSE:EPD traded up $0.02 on Friday, reaching $28.70. 700,537 shares of the stock traded hands, compared to its average volume of 2,927,757. The company has a market capitalization of $62.85 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 3.29 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86. The company’s fifty day simple moving average is $28.84 and its 200 day simple moving average is $28.89.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. Enterprise Products Partners’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.18 EPS for the current fiscal year.

Enterprise Products Partners Company 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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