Enterprise Products Partners L.P. (NYSE:EPD) Stake Lifted by Golden State Wealth Management LLC

Golden State Wealth Management LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 113.6% in the 1st quarter, HoldingsChannel reports. The fund owned 8,102 shares of the oil and gas producer’s stock after acquiring an additional 4,309 shares during the period. Golden State Wealth Management LLC’s holdings in Enterprise Products Partners were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EPD. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares in the last quarter. KDK Private Wealth Management LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $22,333,000. Finally, Walnut Private Equity Partners LLC acquired a new stake in Enterprise Products Partners during the first quarter valued at approximately $24,069,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE:EPD opened at $31.06 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market cap of $67.37 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The firm has a 50 day simple moving average of $31.21 and a 200 day simple moving average of $32.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Ratings Changes

Several analysts recently commented on EPD shares. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Finally, Barclays cut their target price on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Company 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.