Synovus Financial Corp Sells 9,987 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Synovus Financial Corp trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,153 shares of the oil and gas producer's stock after selling 9,987 shares during the quarter. Synovus Financial Corp's holdings in Enterprise Products Partners were worth $1,259,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Trust Co. of Vermont raised its stake in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after purchasing an additional 300 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock worth $2,304,000 after acquiring an additional 306 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock worth $317,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. StockNews.com raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Stock Up 2.0 %

NYSE EPD traded up $0.61 on Friday, hitting $31.05. 3,638,730 shares of the company were exchanged, compared to its average volume of 4,369,478. The stock has a fifty day moving average of $32.65 and a 200-day moving average of $31.87. 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 cap of $67.25 billion, a PE ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.78. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is 79.55%.

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.