Osterweis Capital Management Inc. Sells 17,574 Shares of Enterprise Products Partners L.P. (EPD)

Osterweis Capital Management Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,519,404 shares of the oil and gas producer’s stock after selling 17,574 shares during the period. Enterprise Products Partners L.P. accounts for approximately 3.1% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Osterweis Capital Management Inc. owned about 0.07% of Enterprise Products Partners L.P. worth $41,145,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Sather Financial Group Inc acquired a new position in shares of Enterprise Products Partners L.P. during the second quarter worth $443,000. CNH Partners LLC increased its position in shares of Enterprise Products Partners L.P. by 0.4% during the second quarter. CNH Partners LLC now owns 27,760 shares of the oil and gas producer’s stock worth $752,000 after purchasing an additional 100 shares in the last quarter. Day & Ennis LLC increased its position in shares of Enterprise Products Partners L.P. by 0.3% during the second quarter. Day & Ennis LLC now owns 8,084 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 27 shares in the last quarter. FTB Advisors Inc. increased its position in shares of Enterprise Products Partners L.P. by 2.7% during the second quarter. FTB Advisors Inc. now owns 9,853 shares of the oil and gas producer’s stock worth $267,000 after purchasing an additional 262 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Enterprise Products Partners L.P. during the second quarter worth $259,960,000. 37.56% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners L.P. (NYSE EPD) remained flat at $26.29 during trading on Friday. 3,835,030 shares of the company’s stock traded hands. Enterprise Products Partners L.P. has a 52-week low of $24.01 and a 52-week high of $30.25. The company has a market capitalization of $56.47 billion, a PE ratio of 20.68 and a beta of 0.90. The company’s 50-day moving average price is $25.98 and its 200 day moving average price is $26.77.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Enterprise Products Partners L.P.’s revenue was up 17.6% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post $1.35 earnings per share for the current year.

A number of brokerages have recently issued reports on EPD. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Enterprise Products Partners L.P. in a research report on Thursday, August 10th. BidaskClub raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research report on Friday, July 14th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $31.00 price target (down from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $31.24.

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About Enterprise Products Partners L.P.

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 L.P. (NYSE:EPD)

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