TRU Independence Asset Management 2 LLC Takes $914,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

TRU Independence Asset Management 2 LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,402 shares of the oil and gas producer's stock, valued at approximately $914,000. Enterprise Products Partners comprises approximately 0.8% of TRU Independence Asset Management 2 LLC's holdings, making the stock its 25th biggest position.

Other large investors have also recently made changes to their positions in the company. Blackstone Inc. lifted its stake in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock worth $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock worth $470,091,000 after acquiring an additional 741,237 shares during the period. Energy Income Partners LLC lifted its stake in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock worth $455,761,000 after acquiring an additional 142,689 shares during the period. Pathway Financial Advisers LLC lifted its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Finally, Chickasaw Capital Management LLC lifted its stake in Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock worth $159,901,000 after acquiring an additional 87,930 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.16 during mid-day trading on Monday, hitting $30.58. The company had a trading volume of 2,237,299 shares, compared to its average volume of 4,293,840. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.90 and a 12-month high of $30.68. The company's fifty day moving average is $29.28 and its 200-day moving average is $28.99. The company has a market capitalization of $66.37 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The company's revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.87%. 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.