Gilpin Wealth Management LLC Invests $1.38 Million in Enterprise Products Partners L.P. $EPD

Gilpin Wealth Management LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,907 shares of the oil and gas producer’s stock, valued at approximately $1,376,000. Enterprise Products Partners makes up approximately 1.1% of Gilpin Wealth Management LLC’s holdings, making the stock its 26th largest holding.

A number of other institutional investors have also recently bought and sold shares of EPD. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in Enterprise Products Partners by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after buying an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.6%

Shares of NYSE:EPD opened at $37.94 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company’s fifty day moving average is $38.02 and its 200-day moving average is $35.63. The company has a market capitalization of $82.02 billion, a PE ratio of 14.05, a P/E/G ratio of 1.33 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, TD Cowen restated a “hold” rating and issued a $38.00 target price (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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.67.

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.