Truvestments Capital LLC Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Truvestments Capital LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,186 shares of the oil and gas producer’s stock after acquiring an additional 486 shares during the period. Truvestments Capital LLC’s holdings in Enterprise Products Partners were worth $64,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Accordant Advisory Group Inc purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. grew its stake in Enterprise Products Partners by 130.4% in the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on EPD. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Mizuho reissued a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Trading Up 1.3 %

NYSE EPD traded up $0.38 during trading on Friday, hitting $29.94. The company had a trading volume of 6,867,892 shares, compared to its average volume of 3,376,415. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a market cap of $65.02 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The company’s fifty day moving average is $28.86 and its 200-day moving average is $28.32.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.01%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

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.