Birch Capital Management LLC Sells 401 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Birch Capital Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,139 shares of the oil and gas producer’s stock after selling 401 shares during the period. Enterprise Products Partners comprises 3.0% of Birch Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Birch Capital Management LLC’s holdings in Enterprise Products Partners were worth $5,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidemark LLC boosted its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $30,000. National Bank of Canada FI boosted its holdings in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares during the period. Finally, Colonial Trust Co SC boosted its holdings in Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 314 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EPD shares. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Barclays lowered their target price on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.95 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm’s fifty day moving average price is $30.93 and its 200-day moving average price is $32.23. The stock has a market cap of $69.30 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the business posted $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Enterprise Products Partners Company Profile

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.