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

Bard Financial Services Inc. trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 159,450 shares of the oil and gas producer’s stock after selling 16,425 shares during the period. Bard Financial Services Inc.’s holdings in Enterprise Products Partners were worth $5,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curi RMB Capital LLC grew its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 339 shares during the period. Versant Capital Management Inc grew its holdings in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 340 shares during the period. Zega Financial LLC raised its stake in Enterprise Products Partners by 1.7% during the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after purchasing an additional 344 shares during the period. Tranquility Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after buying an additional 350 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.35 during midday trading on Monday, hitting $32.18. 1,975,393 shares of the stock traded hands, compared to its average volume of 2,732,331. The business’s 50 day moving average price is $31.40 and its two-hundred day moving average price is $29.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $69.75 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.