Evergreen Capital Management LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 26.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,061,729 shares of the oil and gas producer’s stock after purchasing an additional 223,777 shares during the period. Enterprise Products Partners comprises approximately 3.2% of Evergreen Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Evergreen Capital Management LLC’s holdings in Enterprise Products Partners were worth $27,679,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Boston Partners lifted its position in Enterprise Products Partners by 82.6% during the second quarter. Boston Partners now owns 1,206,722 shares of the oil and gas producer’s stock worth $32,678,000 after buying an additional 545,856 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 92,837 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 1,616 shares during the period. Pinnacle Financial Partners Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $1,159,000. Marshall Wace North America L.P. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $12,501,000. Finally, Everett Harris & Co. CA raised its holdings in shares of Enterprise Products Partners by 17.3% in the 2nd quarter. Everett Harris & Co. CA now owns 94,025 shares of the oil and gas producer’s stock worth $2,546,000 after purchasing an additional 13,861 shares during the period. 37.79% of the stock is currently owned by institutional investors.
EPD has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Scotiabank set a $33.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a report on Sunday, October 15th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price target on shares of Enterprise Products Partners in a research report on Friday, September 15th. Jefferies Group decreased their target price on Enterprise Products Partners from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $29.00 target price on shares of Enterprise Products Partners in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.92.
In other news, Director Carin Marcy Barth acquired 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $25.00 per share, with a total value of $300,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aj Teague acquired 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $24.26 per share, for a total transaction of $200,145.00. The disclosure for this purchase can be found here. Corporate insiders own 37.50% of the company’s stock.
Enterprise Products Partners L.P. (NYSE EPD) traded down $0.19 during mid-day trading on Wednesday, hitting $24.80. The stock had a trading volume of 3,404,700 shares, compared to its average volume of 4,721,808. The company has a market cap of $54,005.54, a price-to-earnings ratio of 19.68, a P/E/G ratio of 3.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 0.71. Enterprise Products Partners L.P. has a 52 week low of $23.59 and a 52 week high of $30.25.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st were paid a $0.4225 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.81%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is 135.20%.
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Enterprise Products Partners Profile
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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