Pasadena Private Wealth LLC Has $1.16 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pasadena Private Wealth LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,044 shares of the oil and gas producer’s stock after acquiring an additional 3,852 shares during the period. Pasadena Private Wealth LLC’s holdings in Enterprise Products Partners were worth $1,162,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton grew its position in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Assetmark Inc. increased its stake in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $36,000. Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% during 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 in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $40,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup boosted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. 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. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $33.69 on Wednesday. The business has a fifty day moving average price of $32.55 and a 200-day moving average price of $30.86. The firm has a market capitalization of $73.02 billion, a P/E ratio of 12.52, a PEG ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a one year low of $27.20 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.