Bard Financial Services Inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 124,400 shares of the oil and gas producer’s stock, valued at approximately $2,437,000.
A number of other large investors have also recently modified their holdings of the stock. Morgan Stanley lifted its stake in Enterprise Products Partners by 0.3% in the 4th quarter. Morgan Stanley now owns 17,933,855 shares of the oil and gas producer’s stock valued at $351,325,000 after purchasing an additional 54,170 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Enterprise Products Partners by 0.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 10,233,876 shares of the oil and gas producer’s stock valued at $200,473,000 after acquiring an additional 40,900 shares during the period. Clearbridge Investments LLC raised its holdings in Enterprise Products Partners by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock valued at $191,656,000 after acquiring an additional 493,805 shares during the period. Principal Financial Group Inc. raised its holdings in Enterprise Products Partners by 7.5% in the 4th quarter. Principal Financial Group Inc. now owns 6,294,457 shares of the oil and gas producer’s stock valued at $123,308,000 after acquiring an additional 438,860 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in Enterprise Products Partners by 16.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 4,739,232 shares of the oil and gas producer’s stock valued at $92,841,000 after acquiring an additional 653,492 shares during the period. Institutional investors and hedge funds own 30.51% of the company’s stock.
Several research firms have weighed in on EPD. TD Securities began coverage on shares of Enterprise Products Partners in a report on Tuesday. They issued a “buy” rating and a $28.00 price target on the stock. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, March 29th. Finally, Mizuho raised their target price on shares of Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, January 20th. Fourteen analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $25.77.
Shares of Enterprise Products Partners stock opened at $22.57 on Thursday. Enterprise Products Partners L.P. has a fifty-two week low of $14.90 and a fifty-two week high of $23.71. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.12 and a quick ratio of 0.71. The firm has a market capitalization of $49.24 billion, a P/E ratio of 10.96 and a beta of 1.38. The company’s 50 day moving average price is $22.47 and its two-hundred day moving average price is $20.06.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.35). The company had revenue of $7.04 billion during the quarter, compared to analyst estimates of $7.24 billion. Enterprise Products Partners had a net margin of 16.10% and a return on equity of 17.76%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.98%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 83.72%.
About Enterprise Products Partners
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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