Fiduciary Trust Co Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Fiduciary Trust Co lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,957 shares of the oil and gas producer’s stock after selling 861 shares during the period. Fiduciary Trust Co’s holdings in Enterprise Products Partners were worth $872,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. boosted 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 valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. increased its holdings in Enterprise Products Partners by 19,800.0% in 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 in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $34.43 on Friday. The stock has a 50-day simple moving average of $30.11 and a two-hundred day simple moving average of $29.35. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $34.63. The firm has a market capitalization of $74.63 billion, a PE ratio of 12.90, a P/E/G ratio of 1.74 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 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 the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.