Evergreen Capital Management LLC Sells 44,312 Shares of Enterprise Products Partners L.P. $EPD

Evergreen Capital Management LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,159 shares of the oil and gas producer’s stock after selling 44,312 shares during the period. Enterprise Products Partners makes up 0.7% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $28,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Winnow Wealth LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the second quarter worth approximately $29,000. Traub Capital Management LLC acquired a new position in Enterprise Products Partners during the second quarter valued at approximately $31,000. Financial Consulate Inc. bought a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $33,000. Finally, Davis Capital Management acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Monday, December 29th. The shares were bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $32.88 on Friday. The stock’s 50 day simple moving average is $32.13 and its 200-day simple moving average is $31.65. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The stock has a market cap of $71.13 billion, a PE ratio of 12.41, a P/E/G ratio of 2.29 and a beta of 0.59. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has initiated a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Analysts Set New Price Targets

Several brokerages recently commented on EPD. Wolfe Research downgraded shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Monday, December 1st. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a report on Thursday, December 18th. Finally, Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $34.77.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.