Evergreen Capital Management LLC Sells 21,610 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Evergreen Capital Management LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,011,295 shares of the oil and gas producer’s stock after selling 21,610 shares during the period. Enterprise Products Partners comprises 1.1% of Evergreen Capital Management LLC’s holdings, making the stock its 12th largest holding. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $29,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EPD. Cadence Bank boosted its holdings in shares of Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares in the last quarter. McAdam LLC boosted its holdings in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares in the last quarter. Advisor OS LLC raised its position in Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares during the last quarter. Ellsworth Advisors LLC raised its position in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after acquiring an additional 383 shares in the last quarter. Finally, Stokes Family Office LLC raised its position in shares of Enterprise Products Partners by 2.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after acquiring an additional 399 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $29.32 on Monday. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The stock has a market capitalization of $63.67 billion, a P/E ratio of 11.50, a PEG ratio of 1.49 and a beta of 1.03. The firm has a fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $28.90. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EPD shares. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $33.08.

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.