Gould Asset Management LLC CA Takes $635,000 Position in Enterprise Products Partners L.P. $EPD

Gould Asset Management LLC CA bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 17,274 shares of the oil and gas producer’s stock, valued at approximately $635,000.

A number of other institutional investors have also made changes to their positions in the business. Auto Owners Insurance Co raised its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. boosted its position in Enterprise Products Partners by 12.0% during 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 during the period. Corient Private Wealth LLC boosted its position in Enterprise Products Partners by 119.4% during 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 during the period. Barclays PLC increased its holdings in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after purchasing an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in shares of Enterprise Products Partners by 5,743.2% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after purchasing an additional 1,001,616 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EPD shares. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.93.

Enterprise Products Partners Stock Down 0.1%

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

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners Company Profile

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.