Enterprise Products Partners L.P. (EPD) Position Trimmed by Cetera Advisor Networks LLC
Cetera Advisor Networks LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,633 shares of the oil and gas producer’s stock after selling 3,597 shares during the period. Cetera Advisor Networks LLC’s holdings in Enterprise Products Partners were worth $1,245,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Ameritas Investment Partners Inc. raised its stake in Enterprise Products Partners by 14.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 500 shares during the last quarter. Ffcm LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at $112,000. First Eagle Investment Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $130,000. Camarda Financial Advisors LLC raised its stake in Enterprise Products Partners by 0.6% during the 2nd quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its stake in Enterprise Products Partners by 690.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 4,760 shares during the last quarter. Institutional investors own 37.65% of the company’s stock.
EPD has been the subject of a number of research reports. Zacks Investment Research lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Scotiabank set a $33.00 target price on shares of Enterprise Products Partners and gave the company a “buy” rating in a research note on Sunday, October 15th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 target price on shares of Enterprise Products Partners in a research note on Friday, September 15th. Jefferies Group decreased 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. Finally, SunTrust Banks reiterated a “buy” rating and set a $29.00 target price on shares of Enterprise Products Partners in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $30.92.
In other news, CEO Aj Teague bought 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was bought at an average price of $24.26 per share, with a total value of $200,145.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carin Marcy Barth bought 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $25.00 per share, with a total value of $300,000.00. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.
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About Enterprise Products Partners
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.
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