Gilpin Wealth Management LLC Purchases New Shares in Enterprise Products Partners L.P. $EPD

Gilpin Wealth Management LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel.com reports. The firm purchased 42,907 shares of the oil and gas producer’s stock, valued at approximately $1,376,000. Enterprise Products Partners makes up about 1.1% of Gilpin Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position.

Other institutional investors have also made changes to their positions in the company. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at about $31,000. Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $32,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $32,000. Finally, Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth about $42,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $37.94 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock has a market cap of $82.02 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49. The stock has a 50-day moving average of $38.02 and a 200-day moving average of $35.63. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17.

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). The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EPD shares. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Scotiabank reissued a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine equities research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.67.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners 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.