SeaBridge Investment Advisors LLC Sells 1,090 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

SeaBridge Investment Advisors LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,392 shares of the oil and gas producer’s stock after selling 1,090 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $1,237,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Accordant Advisory Group Inc acquired a new stake in Enterprise Products Partners in the first quarter worth about $26,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth about $28,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $48,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $49,000. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. reduced their price target 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. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Performance

EPD stock traded down $0.05 during trading hours on Friday, hitting $29.01. 2,424,177 shares of the stock were exchanged, compared to its average volume of 4,435,252. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $63.00 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $27.95. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $29.99.

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

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.