Stock Traders Buy High Volume of Call Options on Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) was the target of some unusual options trading activity on Tuesday. Traders bought 34,749 call options on the stock. This represents an increase of approximately 263% compared to the typical volume of 9,561 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Sendero Wealth Management LLC grew its holdings in shares of Enterprise Products Partners by 54.4% in the fourth quarter. Sendero Wealth Management LLC now owns 14,195 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 5,000 shares during the period. Armstrong Advisory Group Inc. increased its holdings in shares of Enterprise Products Partners by 4.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after buying an additional 329 shares during the last quarter. ARS Wealth Advisors Group LLC lifted its holdings in Enterprise Products Partners by 16.1% in the fourth quarter. ARS Wealth Advisors Group LLC now owns 8,149 shares of the oil and gas producer’s stock valued at $256,000 after acquiring an additional 1,130 shares during the last quarter. Burney Co. grew its position in Enterprise Products Partners by 25.6% in the fourth quarter. Burney Co. now owns 15,626 shares of the oil and gas producer’s stock worth $490,000 after acquiring an additional 3,186 shares during the period. Finally, Kelly Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $376,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded up $0.89 during trading on Tuesday, hitting $33.43. The company had a trading volume of 4,550,355 shares, compared to its average volume of 3,825,566. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $31.79 and a two-hundred day simple moving average of $30.11. The firm has a market capitalization of $72.46 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the business earned $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Analysts Set New Price Targets

Several research analysts have recently commented on EPD shares. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday. They issued a “sector perform” rating and a $33.00 target price for the company. Truist Financial boosted their price target 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. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

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.