Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,933 shares of the oil and gas producer’s stock after buying an additional 21,834 shares during the quarter. Franklin Resources Inc.’s holdings in Enterprise Products Partners were worth $4,628,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.01 on Tuesday. The firm has a market cap of $67.22 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. 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 $26.07 and a 1-year high of $34.63. The firm’s fifty day moving average price is $30.95 and its 200 day moving average price is $29.76.

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

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.77%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Enterprise Products Partners Company 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.