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

Key Points

• Pasadena Private Wealth LLC increased its stake in Enterprise Products Partners by 138.2% in the fourth quarter, ending with 119,400 shares valued at about $3.83 million.
• Several other institutional investors also boosted or initiated positions, and institutions now own 26.07% of Enterprise Products Partners’ stock.
• The company’s shares were down 1.4% to $37.46, while analysts currently have an average Hold rating with a price target of $39.67; Enterprise also recently paid a $0.55 quarterly dividend, yielding about 5.9%.

Pasadena Private Wealth LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 138.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,400 shares of the oil and gas producer's stock after purchasing an additional 69,264 shares during the quarter. Pasadena Private Wealth LLC's holdings in Enterprise Products Partners were worth $3,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Energy Income Partners LLC grew its position in shares of Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock valued at $459,829,000 after purchasing an additional 80,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer's stock valued at $361,810,000 after purchasing an additional 214,995 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $292,194,000. Berkley W R Corp grew its position in shares of Enterprise Products Partners by 17.9% in the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer's stock valued at $187,620,000 after purchasing an additional 910,206 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock valued at $144,592,000 after purchasing an additional 327,807 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a research report on Tuesday, March 31st. Stifel Nicolaus upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Citigroup reissued a "buy" rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.67.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Down 1.4%

Shares of NYSE EPD opened at $37.46 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $80.97 billion, a P/E ratio of 13.87, a PEG ratio of 1.40 and a beta of 0.52. The stock's fifty day moving average is $38.15 and its 200 day moving average is $35.25.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners's dividend payout ratio (DPR) 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.

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