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

Bard Financial Services Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,875 shares of the oil and gas producer’s stock after selling 11,250 shares during the period. Bard Financial Services Inc.’s holdings in Enterprise Products Partners were worth $5,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Curi RMB Capital LLC increased its stake in Enterprise Products Partners by 0.5% during the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the period. Zega Financial LLC increased 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 increased its stake in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after purchasing an additional 346 shares during the period. Princeton Global Asset Management LLC increased its stake in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPD. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $32.22 on Wednesday. The firm has a market capitalization of $69.84 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.69 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $30.56 and its two-hundred day moving average is $29.55.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

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.