Truvestments Capital LLC Has $64,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Truvestments Capital LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,186 shares of the oil and gas producer’s stock after purchasing an additional 486 shares during the period. Truvestments Capital LLC’s holdings in Enterprise Products Partners were worth $64,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Accordant Advisory Group Inc bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners in the fourth quarter valued at $28,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners in the first quarter valued at $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the first quarter valued at $29,000. Finally, First Command Advisory Services Inc. grew its position in Enterprise Products Partners by 130.4% in the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 913 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 1.3 %

Shares of NYSE:EPD traded up $0.38 during mid-day trading on Friday, reaching $29.94. 6,867,892 shares of the stock were exchanged, compared to its average volume of 3,376,415. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market cap of $65.02 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.40 and a beta of 1.04. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The stock’s 50 day simple moving average is $28.86 and its 200-day simple moving average is $28.32.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Wednesday, July 31st. 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 dividend yield of 7.01%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. reduced their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Finally, Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners 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.