Golden State Wealth Management LLC Invests $119,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Golden State Wealth Management LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,793 shares of the oil and gas producer’s stock, valued at approximately $119,000.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Verity & Verity LLC raised its holdings in shares of Enterprise Products Partners by 30.8% in 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 stake in Enterprise Products Partners in the third quarter valued at $2,628,000. FMR LLC raised its stake in 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 acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings 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 acquiring an additional 51,809 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Enterprise Products Partners by 5.2% in the 3rd 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.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Citigroup boosted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eight have given 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 Stock Up 0.3 %

NYSE EPD opened at $32.96 on Monday. The stock has a market capitalization of $71.45 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 52 week low of $26.14 and a 52 week high of $34.63. 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 stock has a fifty day moving average of $32.50 and a 200-day moving average of $30.65.

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

Enterprise Products Partners Increases Dividend

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

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.