Enterprise Products Partners L.P. (NYSE:EPD) Position Increased by Bank of Stockton

Bank of Stockton increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 26.4% in the fourth quarter, HoldingsChannel reports. The firm owned 10,030 shares of the oil and gas producer’s stock after acquiring an additional 2,098 shares during the period. Bank of Stockton’s holdings in Enterprise Products Partners were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton boosted its stake in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the period. Assetmark Inc. boosted its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the 3rd quarter worth approximately $36,000. Bangor Savings Bank boosted its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent analyst reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Finally, Citigroup lifted their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Down 0.3 %

EPD stock opened at $33.54 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. The company has a fifty day simple moving average of $32.60 and a 200 day simple moving average of $30.89. The firm has a market cap of $72.69 billion, a PE ratio of 12.47, a PEG ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.