Evergreen Capital Management LLC Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Evergreen Capital Management LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,009,345 shares of the oil and gas producer’s stock after selling 3,156 shares during the quarter. Enterprise Products Partners makes up 1.0% of Evergreen Capital Management LLC’s holdings, making the stock its 14th largest position. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $31,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Quantinno Capital Management LP acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $263,000. Orion Portfolio Solutions LLC boosted its holdings in Enterprise Products Partners by 18.7% during the third quarter. Orion Portfolio Solutions LLC now owns 13,808 shares of the oil and gas producer’s stock worth $402,000 after buying an additional 2,178 shares in the last quarter. Barclays PLC grew its position in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the period. Eaton Financial Holdings Company LLC purchased a new position in Enterprise Products Partners in the third quarter valued at $1,066,000. Finally, Stock Yards Bank & Trust Co. raised its position in shares of Enterprise Products Partners by 6.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer’s stock worth $1,771,000 after acquiring an additional 3,500 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.95 on Wednesday. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The firm has a 50-day simple moving average of $32.75 and a 200-day simple moving average of $31.86. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analyst Ratings Changes

Several equities analysts recently weighed in on EPD shares. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Barclays boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.