Truvestments Capital LLC Buys Shares of 1,700 Enterprise Products Partners L.P. (NYSE:EPD)

Truvestments Capital LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,700 shares of the oil and gas producer’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $2,628,000. Thrivent Financial for Lutherans boosted its position in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Enterprise Products Partners by 37.7% during the third quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after buying an additional 16,018 shares during the period. Caprock Group LLC acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $1,943,000. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $670,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on EPD shares. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Up 2.4 %

Shares of NYSE:EPD opened at $33.66 on Thursday. The company has a market capitalization of $72.95 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.67 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $33.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business’s 50 day simple moving average is $29.92 and its 200 day simple moving average is $29.28.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.