Evergreen Capital Management LLC Has $28.40 Million Stock Position in Enterprise Products Partners L.P. $EPD

Evergreen Capital Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 908,159 shares of the oil and gas producer’s stock after selling 44,312 shares during the quarter. Enterprise Products Partners accounts for approximately 0.7% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $28,398,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quantum Financial Planning Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $310,000. Vanguard Personalized Indexing Management LLC grew its holdings in Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after acquiring an additional 9,979 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock valued at $21,225,000 after purchasing an additional 61,669 shares during the period. Westbourne Investment Advisors Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $657,000. Finally, Bridges Investment Management Inc. increased its holdings in Enterprise Products Partners by 5.9% in the second quarter. Bridges Investment Management Inc. now owns 203,738 shares of the oil and gas producer’s stock valued at $6,318,000 after purchasing an additional 11,375 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EPD. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Citigroup restated a “buy” rating and set a $36.00 price objective (up previously from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Jefferies Financial Group began coverage on shares of Enterprise Products Partners in a research report on Monday, January 12th. They set a “hold” rating and a $33.00 price target on the stock. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research report on Monday, January 5th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.77.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.88 on Friday. The company has a fifty day moving average price of $32.13 and a 200 day moving average price of $31.65. The firm has a market cap of $71.13 billion, a PE ratio of 12.41, a PEG ratio of 2.29 and a beta of 0.59. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. 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 issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners declared that its board has approved a share buyback program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 32.60% of the stock is owned by company insiders.

About Enterprise Products Partners

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.