Belpointe Asset Management LLC Invests $1.07 Million in Enterprise Products Partners L.P. (EPD) Stock

Belpointe Asset Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,921 shares of the oil and gas producer’s stock, valued at approximately $1,067,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Yellowstone Partners LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at about $310,000. Independent Advisor Alliance lifted its holdings in Enterprise Products Partners by 19.1% during the 3rd quarter. Independent Advisor Alliance now owns 28,090 shares of the oil and gas producer’s stock valued at $742,000 after purchasing an additional 4,499 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at about $3,507,000. Wealthcare Advisory Partners LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at about $225,000. Finally, Parallel Advisors LLC lifted its holdings in Enterprise Products Partners by 20.8% during the 3rd quarter. Parallel Advisors LLC now owns 125,352 shares of the oil and gas producer’s stock valued at $3,054,000 after purchasing an additional 21,592 shares during the last quarter. 37.65% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on EPD shares. BidaskClub raised shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Jefferies Group dropped their target price on shares of Enterprise Products Partners from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Enterprise Products Partners in a research note on Friday, September 15th. Seaport Global Securities started coverage on shares of Enterprise Products Partners in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $29.00 target price for the company. Finally, BMO Capital Markets set a $33.00 target price on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Thursday, October 12th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $30.92.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up $0.24 during trading hours on Wednesday, hitting $25.73. 7,027,700 shares of the stock traded hands, compared to its average volume of 4,769,215. Enterprise Products Partners L.P. has a 12 month low of $23.59 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 0.71. The firm has a market cap of $55,086.08, a PE ratio of 20.07, a price-to-earnings-growth ratio of 3.83 and a beta of 0.89.

In other Enterprise Products Partners news, CEO Aj Teague purchased 8,250 shares of the stock in a transaction dated Tuesday, November 28th. The stock was bought at an average price of $24.26 per share, for a total transaction of $200,145.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carin Marcy Barth purchased 12,000 shares of the stock in a transaction dated Monday, November 6th. The shares were acquired at an average price of $25.00 per share, with a total value of $300,000.00. The disclosure for this purchase can be found here. 37.50% of the stock is owned by insiders.

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Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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