Harber Asset Management LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Harber Asset Management LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 266,552 shares of the oil and gas producer's stock, valued at approximately $8,359,000. Enterprise Products Partners accounts for about 2.5% of Harber Asset Management LLC's investment portfolio, making the stock its 17th largest holding.

Several other hedge funds also recently modified their holdings of EPD. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after buying an additional 656 shares during the period. Tidemark LLC raised its holdings 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 during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $30,000. Finally, National Bank of Canada FI grew its holdings in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 360 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.82 during midday trading on Thursday, reaching $31.26. The stock had a trading volume of 2,371,526 shares, compared to its average volume of 4,361,569. 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 L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm's fifty day simple moving average is $32.70 and its 200-day simple moving average is $31.85. The stock has a market capitalization of $67.69 billion, a P/E ratio of 11.62, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during 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 revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

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.