Bard Financial Services Inc. Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Bard Financial Services Inc. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel reports. The fund purchased 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 bought and sold shares of the business. Morgan Stanley boosted its position 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 buying an additional 54,170 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position 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 buying an additional 40,900 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Enterprise Products Partners by 5.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock worth $191,656,000 after purchasing an additional 493,805 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Enterprise Products Partners by 7.5% during the fourth quarter. Principal Financial Group Inc. now owns 6,294,457 shares of the oil and gas producer’s stock worth $123,308,000 after purchasing an additional 438,860 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Enterprise Products Partners by 16.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 4,739,232 shares of the oil and gas producer’s stock worth $92,841,000 after purchasing an additional 653,492 shares during the last quarter. 30.51% of the stock is owned by institutional investors.

NYSE:EPD opened at $22.57 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $14.90 and a 52 week high of $23.71. The firm has a market cap of $49.24 billion, a price-to-earnings ratio of 10.96 and a beta of 1.38. The firm’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $20.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 1.12.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.35). Enterprise Products Partners had a net margin of 16.10% and a return on equity of 17.76%. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same period in the prior year, the business earned $0.50 earnings per share. Enterprise Products Partners’s quarterly revenue was down 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 12th. Investors of record on Friday, April 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.98%. Enterprise Products Partners’s dividend payout ratio is presently 83.72%.

Several equities research analysts have commented on the stock. TD Securities initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday. They issued a “buy” rating and a $28.00 price target on the stock. Mizuho raised their price objective on shares of Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, January 20th. Finally, Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, March 29th. Fourteen analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $25.77.

Enterprise Products Partners Company Profile

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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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