Angeles Wealth Management LLC Acquires 16,900 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Angeles Wealth Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 70.6% in the 4th quarter, HoldingsChannel reports. The firm owned 40,850 shares of the oil and gas producer’s stock after purchasing an additional 16,900 shares during the quarter. Angeles Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Verity & Verity LLC lifted its position in Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares in the last quarter. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $2,628,000. FMR LLC lifted its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.3 %

EPD opened at $32.96 on Monday. Enterprise Products Partners L.P. has a twelve month low of $26.14 and a twelve month high of $34.63. The firm has a market cap of $71.45 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s fifty day moving average is $32.50 and its two-hundred day moving average is $30.65.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.49%. Enterprise Products Partners’s payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EPD. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners 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.