Enterprise Products Partners Target of Unusually Large Options Trading (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 46,367 call options on the company. This is an increase of approximately 228% compared to the average daily volume of 14,142 call options.

Analyst Ratings Changes

A number of research analysts recently weighed in on EPD shares. 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. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Performance

NYSE EPD traded down $0.29 on Tuesday, hitting $33.35. The stock had a trading volume of 3,501,970 shares, compared to its average volume of 4,788,269. Enterprise Products Partners has a one year low of $27.26 and a one year high of $34.63. The stock has a market cap of $72.28 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.37 and a beta of 1.09. The company’s 50-day moving average is $32.67 and its two-hundred day moving average is $30.99. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company posted $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current 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. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.42%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Allworth Financial LP boosted its stake in Enterprise Products Partners by 56.3% during the third quarter. Allworth Financial LP now owns 25,966 shares of the oil and gas producer’s stock worth $756,000 after buying an additional 9,353 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enterprise Products Partners by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 961,389 shares of the oil and gas producer’s stock valued at $27,986,000 after acquiring an additional 14,760 shares during the period. Modera Wealth Management LLC grew its stake in Enterprise Products Partners by 4.5% during the third quarter. Modera Wealth Management LLC now owns 18,508 shares of the oil and gas producer’s stock worth $539,000 after buying an additional 800 shares during the last quarter. Finally, Insight Folios Inc increased its holdings in shares of Enterprise Products Partners by 5.2% during the third quarter. Insight Folios Inc now owns 277,867 shares of the oil and gas producer’s stock worth $8,089,000 after buying an additional 13,793 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.