Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 20.0% during the third quarter, Holdings Channel reports. The institutional investor owned 50,140 shares of the oil and gas producer’s stock after buying an additional 8,361 shares during the period. Synovus Financial Corp’s holdings in Enterprise Products Partners were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the second quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.6 %

EPD opened at $32.19 on Monday. The firm’s 50 day moving average is $30.79 and its 200-day moving average is $29.67. Enterprise Products Partners L.P. has a 52-week low of $26.02 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $69.77 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.00.

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.