Truvestments Capital LLC Purchases 448 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Truvestments Capital LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 26.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,148 shares of the oil and gas producer’s stock after buying an additional 448 shares during the quarter. Truvestments Capital LLC’s holdings in Enterprise Products Partners were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton grew its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% during 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 last quarter. Bangor Savings Bank boosted its position 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 valued at $40,000 after buying an additional 1,072 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Enterprise Products Partners during the 4th quarter valued at $40,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Enterprise Products Partners by 32.5% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EPD shares. Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.01 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm has a market capitalization of $71.50 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $33.20 and a two-hundred day simple moving average of $31.35.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the company posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.