Golden State Equity Partners Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Golden State Equity Partners boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,887 shares of the oil and gas producer’s stock after purchasing an additional 2,454 shares during the period. Golden State Equity Partners’ holdings in Enterprise Products Partners were worth $867,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $43,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $48,000. Community Bank N.A. lifted its holdings in Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $53,000. Finally, Headinvest LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.4 %

Shares of EPD traded up $0.13 on Friday, reaching $29.06. The stock had a trading volume of 7,621,520 shares, compared to its average volume of 4,698,358. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market capitalization of $63.01 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $27.33.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Barclays upped their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Scotiabank increased their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $32.58.

About Enterprise Products Partners

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.