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

Synergy Asset Management LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 60.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 111,912 shares of the oil and gas producer's stock after selling 173,078 shares during the period. Synergy Asset Management LLC's holdings in Enterprise Products Partners were worth $3,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Tidemark LLC raised its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth approximately $30,000. National Bank of Canada FI raised its stake in 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 worth $32,000 after purchasing an additional 360 shares during the period. Finally, Colonial Trust Co SC raised its stake in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.67.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.19 on Friday. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a market capitalization of $67.64 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm's fifty day moving average price is $31.19 and its 200 day moving average price is $32.13.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same period last year, the firm earned $0.66 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.86%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

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.

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