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

Posted by Faye Duncan on Apr 8th, 2021 // Comments off

Bard Financial Services Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,400 shares of the oil and gas producer’s stock, valued at approximately $2,437,000.

Other hedge funds have also recently made changes to their positions in the company. BNC Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at about $25,000. ForthRight Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $25,000. Capstone Triton Financial Group LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $27,000. Reby Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $29,000. Finally, Clearview Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $30,000. 30.51% of the stock is currently owned by institutional investors and hedge funds.

EPD opened at $22.57 on Thursday. The business’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 L.P. has a one year low of $14.90 and a one year high of $23.71. The stock has a market capitalization of $49.24 billion, a P/E ratio of 10.96 and a beta of 1.38.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.35). Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th will be given 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 currently 83.72%.

EPD has been the topic of a number of recent analyst reports. TD Securities began coverage on Enterprise Products Partners in a research report on Tuesday. They set a “buy” rating and a $28.00 price target on the stock. Mizuho raised their target price on 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 raised their target price on Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, March 29th. Fourteen investment analysts have rated the stock with a buy rating, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $25.77.

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.

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

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