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

Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 914 shares of the oil and gas producer’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goodman Financial Corp lifted its stake in Enterprise Products Partners by 16.9% in the fourth quarter. Goodman Financial Corp now owns 27,641 shares of the oil and gas producer’s stock valued at $867,000 after purchasing an additional 4,000 shares during the last quarter. Kiker Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $222,000. Ballast Advisors LLC lifted its position in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Ballast Advisors LLC now owns 309,182 shares of the oil and gas producer’s stock worth $9,696,000 after acquiring an additional 4,060 shares in the last quarter. Douglass Winthrop Advisors LLC increased its holdings in shares of Enterprise Products Partners by 35.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 19,156 shares of the oil and gas producer’s stock worth $601,000 after purchasing an additional 5,000 shares during the period. Finally, HUB Investment Partners LLC increased its holdings in shares of Enterprise Products Partners by 29.3% in the fourth quarter. HUB Investment Partners LLC now owns 287,496 shares of the oil and gas producer’s stock worth $9,016,000 after purchasing an additional 65,088 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.69 on Monday. The company has a 50-day simple moving average of $33.41 and a two-hundred day simple moving average of $31.58. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The firm has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Morgan Stanley increased 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. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners 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.