Enterprise Products Partners L.P. (EPD) Position Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,437,179 shares of the oil and gas producer’s stock after selling 493,707 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Enterprise Products Partners were worth $414,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 13.2% during the 2nd quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock worth $1,084,226,000 after acquiring an additional 4,777,192 shares in the last quarter. BlackRock Inc. raised its stake in shares of Enterprise Products Partners by 321.0% during the 2nd quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock worth $376,005,000 after acquiring an additional 10,360,904 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $333,913,000. FMR LLC raised its stake in shares of Enterprise Products Partners by 0.6% during the 2nd quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock worth $318,843,000 after acquiring an additional 74,391 shares in the last quarter. Finally, ING Groep NV raised its stake in shares of Enterprise Products Partners by 31.4% during the 2nd quarter. ING Groep NV now owns 7,741,600 shares of the oil and gas producer’s stock worth $214,210,000 after acquiring an additional 1,851,500 shares in the last quarter. Hedge funds and other institutional investors own 36.47% of the company’s stock.

Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 15th. Barclays set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Friday, October 12th. Credit Suisse Group assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 11th. They set an “outperform” rating and a $36.00 price objective for the company. Goldman Sachs Group assumed coverage on shares of Enterprise Products Partners in a research note on Monday, October 8th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Wells Fargo & Co boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.67.



In other Enterprise Products Partners news, CEO Aj Teague acquired 3,390 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were purchased at an average price of $29.48 per share, for a total transaction of $99,937.20. Following the completion of the purchase, the chief executive officer now directly owns 1,616,790 shares of the company’s stock, valued at $47,662,969.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 37.50% of the company’s stock.

Shares of Enterprise Products Partners stock opened at $26.37 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $23.10 and a 12-month high of $30.05. The company has a market cap of $58.00 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 5.17 and a beta of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same quarter in the prior year, the business posted $0.30 EPS. Enterprise Products Partners’s revenue for the quarter was up 28.1% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 1.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.4325 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, October 30th. This represents a $1.73 dividend on an annualized basis and a yield of 6.56%. Enterprise Products Partners’s dividend payout ratio is presently 130.30%.

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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