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What Did Institutional Investors Do with Their Positions in EPD?

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Recent institutional activity in EPD

The number of institutional holders in Enterprise Products Partners (EPD) fell to 1,063 by the end of the first quarter compared to 1,069 in the previous quarter.

However, the percentage of shares held by institutional investors increased slightly to 37.5% from 37.1% during the same timeframe. This indicated a mixed sentiment in EPD.

EPD

Morgan Stanley unloaded a major position in EPD during the first quarter. It sold 15.9 million shares of EPD valued at $388.9 million. On the other hand, Brookfield Investment Management was the biggest buyer with 8.4 million shares bought. Among the top ten institutional holders in EPD, 4.0 million positions were added.

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Top five holders

Harvest Fund Advisors, Tortoise Capital Advisors, Alps Advisors, Bank of America Merrill Lynch, and Kayne Anderson Capital Advisors are the top five institutional holders in EPD. Harvest Fund Advisors continues to be the top institutional holder in EPD after adding 4.2 million shares during the first quarter. It currently holds 2.1% in the partnership.

Analysts’ recommendations

A total of 100.0% of analysts have rated EPD as a “buy” as of May 17. EPD’s peers Targa Resources (TRGP) and MPLX LP (MPLX) have “buy” ratings from 61.9% and 94.4% of analysts, respectively, while 55.5% have rated ONEOK (OKE) as a “hold.” The partnership is currently trading below the low range ($29) of analysts’ target price. EPD’s average target price of $31.5 implies a ~12% upside potential from its current price level.

In the next article, we’ll look into the recent institutional activity in MPLX LP.

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