Evergreen Capital Management LLC Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Evergreen Capital Management LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,009,345 shares of the oil and gas producer’s stock after selling 3,156 shares during the period. Enterprise Products Partners comprises 1.0% of Evergreen Capital Management LLC’s portfolio, making the stock its 14th biggest position. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $31,653,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI increased its holdings in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 2.1 %

NYSE EPD opened at $30.95 on Wednesday. The stock has a market cap of $67.03 billion, a P/E ratio of 11.51, a P/E/G 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 L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a fifty day simple moving average of $32.75 and a two-hundred day simple moving average of $31.86.

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

Enterprise Products Partners Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on EPD. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley increased their price target on shares of 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. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $36.89.

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.