Franklin Resources Inc. lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 532,894 shares of the oil and gas producer’s stock after selling 62,473 shares during the quarter. Franklin Resources Inc.’s holdings in Enterprise Products Partners L.P. were worth $14,430,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Enterprise Products Partners L.P. by 82.6% in the second quarter. Boston Partners now owns 1,206,722 shares of the oil and gas producer’s stock worth $32,678,000 after acquiring an additional 545,856 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Enterprise Products Partners L.P. by 1.8% in the second quarter. Cullen Frost Bankers Inc. now owns 92,837 shares of the oil and gas producer’s stock worth $2,514,000 after acquiring an additional 1,616 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Enterprise Products Partners L.P. in the second quarter worth about $12,501,000. Pinnacle Financial Partners Inc. bought a new position in shares of Enterprise Products Partners L.P. in the second quarter worth about $1,159,000. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Enterprise Products Partners L.P. by 3.9% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 41,667,941 shares of the oil and gas producer’s stock worth $1,128,368,000 after acquiring an additional 1,573,553 shares during the last quarter. 37.55% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners L.P. (NYSE:EPD) opened at 25.90 on Friday. The company has a market cap of $55.63 billion, a price-to-earnings ratio of 20.38 and a beta of 0.90. Enterprise Products Partners L.P. has a one year low of $24.01 and a one year high of $30.25. The company has a 50-day moving average of $25.99 and a 200-day moving average of $26.89.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The firm had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post $1.35 EPS for the current fiscal year.

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A number of research firms have recently commented on EPD. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Enterprise Products Partners L.P. in a report on Friday, September 15th. Jefferies Group LLC dropped their target price on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 1st. BidaskClub raised shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Sanford C. Bernstein reissued an “outperform” rating on shares of Enterprise Products Partners L.P. in a report on Thursday, August 10th. Finally, Barclays PLC reissued an “overweight” rating and issued a $31.00 target price (down previously from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.30.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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