Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% in the 3rd quarter, Holdings Channel.com reports. 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of EPD. QRG Capital Management Inc. lifted its holdings in shares of Enterprise Products Partners by 6.0% during the second quarter. QRG Capital Management Inc. now owns 9,548 shares of the oil and gas producer’s stock worth $277,000 after purchasing an additional 541 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Enterprise Products Partners by 20.3% in the second quarter. Sequoia Financial Advisors LLC now owns 24,215 shares of the oil and gas producer’s stock valued at $702,000 after acquiring an additional 4,084 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Enterprise Products Partners by 4.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 946,629 shares of the oil and gas producer’s stock valued at $27,433,000 after acquiring an additional 36,431 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in Enterprise Products Partners by 14.0% in the second quarter. Great Valley Advisor Group Inc. now owns 93,552 shares of the oil and gas producer’s stock valued at $2,711,000 after acquiring an additional 11,455 shares during the period. Finally, Galvin Gaustad & Stein LLC lifted its holdings in Enterprise Products Partners by 13.4% in the second quarter. Galvin Gaustad & Stein LLC now owns 33,810 shares of the oil and gas producer’s stock valued at $980,000 after acquiring an additional 4,000 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.1 %

Shares of NYSE:EPD opened at $32.22 on Wednesday. The stock’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $29.55. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $34.63. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.69 and a beta of 1.08.

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 (EPS) 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 business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $34.00.

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