Harber Asset Management LLC Purchases Shares of 266,552 Enterprise Products Partners L.P. (NYSE:EPD)

Harber Asset Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 266,552 shares of the oil and gas producer’s stock, valued at approximately $8,359,000. Enterprise Products Partners comprises about 2.5% of Harber Asset Management LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other large investors also recently bought and sold shares of the business. CreativeOne Wealth LLC increased its holdings in shares of Enterprise Products Partners by 139.5% in the fourth quarter. CreativeOne Wealth LLC now owns 39,799 shares of the oil and gas producer’s stock valued at $1,248,000 after purchasing an additional 23,178 shares during the period. Fiducient Advisors LLC grew its stake in shares of Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock valued at $2,428,000 after buying an additional 21,025 shares in the last quarter. Savvy Advisors Inc. increased its stake in shares of Enterprise Products Partners by 17.9% during the fourth quarter. Savvy Advisors Inc. now owns 10,250 shares of the oil and gas producer’s stock worth $321,000 after buying an additional 1,558 shares during the period. TT Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $759,000. Finally, RE Dickinson Investment Advisors LLC grew its stake in shares of Enterprise Products Partners by 15.9% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 8,374 shares of the oil and gas producer’s stock valued at $263,000 after purchasing an additional 1,151 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Barclays upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Morgan Stanley raised their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.29 on Monday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm’s 50-day moving average price is $32.84 and its two-hundred day moving average price is $31.86. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $63.44 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 79.55%.

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.