Synovus Financial Corp Has $632,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Synovus Financial Corp cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,710 shares of the oil and gas producer’s stock after selling 817 shares during the period. Synovus Financial Corp’s holdings in Enterprise Products Partners were worth $632,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Enterprise Products Partners by 8.6% during the 1st quarter. Alps Advisors Inc. now owns 26,587,473 shares of the oil and gas producer’s stock worth $585,456,000 after purchasing an additional 2,110,695 shares during the last quarter. BlackRock Inc. increased its stake in shares of Enterprise Products Partners by 12.9% during the 1st quarter. BlackRock Inc. now owns 18,705,833 shares of the oil and gas producer’s stock worth $411,902,000 after purchasing an additional 2,138,372 shares during the last quarter. Morgan Stanley increased its stake in shares of Enterprise Products Partners by 0.3% during the 4th quarter. Morgan Stanley now owns 17,933,855 shares of the oil and gas producer’s stock worth $351,325,000 after purchasing an additional 54,170 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 10,233,876 shares of the oil and gas producer’s stock worth $200,473,000 after purchasing an additional 40,900 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Enterprise Products Partners by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock valued at $191,656,000 after buying an additional 493,805 shares during the last quarter. Institutional investors own 28.59% of the company’s stock.

NYSE EPD opened at $25.05 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.04. The company has a market cap of $54.74 billion, a P/E ratio of 14.65 and a beta of 1.40. Enterprise Products Partners L.P. has a 12-month low of $14.90 and a 12-month high of $25.09. The firm has a 50-day simple moving average of $23.45.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Sunday, May 2nd. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. Enterprise Products Partners had a net margin of 13.04% and a return on equity of 17.87%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date of this dividend was Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 85.31%.

A number of research analysts recently commented on EPD shares. TD Securities started coverage on shares of Enterprise Products Partners in a research note on Tuesday, April 6th. They issued a “buy” rating and a $28.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 13th. Finally, Morgan Stanley upped their price target on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, March 22nd. Thirteen investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $25.50.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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