Enterprise Products Partners L.P. $EPD Shares Acquired by Harber Asset Management LLC

Key Points

• Harber Asset Management LLC increased its stake in Enterprise Products Partners by 36.2% during the 1st quarter, acquiring a total of 363,019 shares valued at approximately $12.4 million.
• Enterprise Products Partners recently announced a dividend increase to $0.545 per share, reflecting a 6.8% dividend yield, up from the previous dividend of $0.54.
• Analysts have given the stock a current average rating of "Moderate Buy" and a price target of $35.83, with upgrades from several firms over recent months.

Harber Asset Management LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 36.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,019 shares of the oil and gas producer's stock after purchasing an additional 96,467 shares during the quarter. Enterprise Products Partners makes up approximately 4.4% of Harber Asset Management LLC's holdings, making the stock its 8th biggest holding. Harber Asset Management LLC's holdings in Enterprise Products Partners were worth $12,393,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners in the first quarter worth about $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $28,000. Security National Bank bought a new position in shares of Enterprise Products Partners in the first quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners in the first quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EPD. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.83.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.14 during trading on Tuesday, hitting $32.00. 2,728,946 shares of the company were exchanged, compared to its average volume of 4,669,503. The business's 50 day moving average is $31.45 and its 200-day moving average is $31.75. The company has a market capitalization of $69.29 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.87 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. Enterprise Products Partners's dividend payout ratio (DPR) is 81.04%.

Insider Buying and Selling

In other news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by company insiders.

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.