Kovack Advisors Inc. Has $1.03 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Kovack Advisors Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,367 shares of the oil and gas producer’s stock after selling 5,212 shares during the quarter. Kovack Advisors Inc.’s holdings in Enterprise Products Partners were worth $1,032,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EPD. Lazard Asset Management LLC grew its position in Enterprise Products Partners by 9.3% during the 3rd quarter. Lazard Asset Management LLC now owns 18,835 shares of the oil and gas producer’s stock worth $515,000 after purchasing an additional 1,606 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $1,314,000. Lake Street Advisors Group LLC grew its holdings in shares of Enterprise Products Partners by 9.1% during the third quarter. Lake Street Advisors Group LLC now owns 11,763 shares of the oil and gas producer’s stock valued at $322,000 after buying an additional 979 shares in the last quarter. KPP Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at $299,000. Finally, Sei Investments Co. raised its position in Enterprise Products Partners by 0.7% during the third quarter. Sei Investments Co. now owns 1,026,256 shares of the oil and gas producer’s stock valued at $28,089,000 after buying an additional 6,737 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.1 %

EPD stock opened at $29.06 on Friday. The firm has a market cap of $63.11 billion, a PE ratio of 11.40, a PEG ratio of 1.35 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $29.99. The company has a fifty day simple moving average of $28.52 and a 200 day simple moving average of $27.95. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Scotiabank raised their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $32.77.

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.