Pasadena Private Wealth LLC Has $3.83 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Pasadena Private Wealth LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 138.2% during the fourth quarter, HoldingsChannel reports. The firm owned 119,400 shares of the oil and gas producer’s stock after acquiring an additional 69,264 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Enterprise Products Partners were worth $3,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Arete Wealth Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 317 shares in the last quarter. ORG Wealth Partners LLC boosted its holdings in shares of Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after purchasing an additional 317 shares in the last quarter. Walker Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP boosted its holdings in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its holdings in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research analyst reports. Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group raised their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada raised their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Finally, TD Cowen reissued a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.67.

Insider Buying and Selling

In related news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $37.46 on Friday. The business’s 50-day moving average price is $38.15 and its 200-day moving average price is $35.25. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm has a market capitalization of $80.97 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.40 and a beta of 0.52. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s payout ratio is presently 81.48%.

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.