Angeles Wealth Management LLC Has $1.28 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Angeles Wealth Management LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,850 shares of the oil and gas producer’s stock after purchasing an additional 16,900 shares during the period. 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 large investors have also recently bought and sold shares of the company. Wealthstar Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $652,000. Tevis Investment Management acquired a new stake in Enterprise Products Partners in the 4th quarter worth approximately $211,000. Newbridge Financial Services Group Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $508,000. Miller Howard Investments Inc. NY grew its holdings in Enterprise Products Partners by 5.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after purchasing an additional 153,083 shares during the last quarter. Finally, Stockman Wealth Management Inc. raised its position in shares of Enterprise Products Partners by 3.6% in the fourth quarter. Stockman Wealth Management Inc. now owns 26,222 shares of the oil and gas producer’s stock valued at $822,000 after purchasing an additional 900 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Wells Fargo & Company downgraded 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Up 0.3 %

Shares of EPD stock opened at $32.96 on Monday. The firm has a fifty day moving average of $32.50 and a 200-day moving average of $30.65. The stock has a market cap of $71.45 billion, a price-to-earnings ratio of 12.25, a P/E/G 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.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results 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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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