Gould Asset Management LLC CA Buys New Position in Enterprise Products Partners L.P. $EPD

Gould Asset Management LLC CA bought a new stake in Enterprise Products Partners L.P. (NYSE:EPDFree Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,274 shares of the oil and gas producer’s stock, valued at approximately $635,000.

Other large investors have also recently bought and sold shares of the company. Auto Owners Insurance Co grew its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after purchasing an additional 1,313,976 shares in the last quarter. Barclays PLC boosted its holdings in Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after purchasing an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Enterprise Products Partners by 5,743.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock worth $32,671,000 after purchasing an additional 1,001,616 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $38.84 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $37.58 and its 200 day simple moving average is $37.37. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a market cap of $83.88 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 77.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group reiterated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Morgan Stanley set a $40.00 target price on Enterprise Products Partners and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Finally, Citigroup reissued a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $39.93.

Check Out Our Latest Stock Report on Enterprise Products Partners

About Enterprise Products Partners

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

Further Reading

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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