Lee Danner & Bass Inc. Invests $29,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel reports. The firm acquired 914 shares of the oil and gas producer’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rosenberg Matthew Hamilton increased its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $40,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Enterprise Products Partners by 32.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 325 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.2 %

Shares of Enterprise Products Partners stock opened at $33.69 on Monday. The company’s fifty day simple moving average is $33.41 and its 200-day simple moving average is $31.58. The stock has a market capitalization of $72.95 billion, a PE ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Barclays lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Truist Financial lifted their target price 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, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Scotiabank lifted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.90.

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.