Bourgeon Capital Management LLC Sells 1,192 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Bourgeon Capital Management LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 194,424 shares of the oil and gas producer’s stock after selling 1,192 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Enterprise Products Partners were worth $6,097,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Rosenberg Matthew Hamilton grew its holdings 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 purchasing an additional 656 shares during the period. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. grew its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the 3rd quarter valued at about $36,000. Finally, Bangor Savings Bank raised its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $34.15 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $74.02 billion, a PE ratio of 12.79, a PEG ratio of 1.58 and a beta of 1.09. The stock’s 50 day moving average price is $32.13 and its 200-day moving average price is $30.27. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.27%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.