Stock Traders Purchase Large Volume of Call Options on Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) was the target of unusually large options trading activity on Tuesday. Stock investors bought 46,367 call options on the company. This is an increase of 228% compared to the typical daily volume of 14,142 call options.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.24 on Wednesday. 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 firm has a market cap of $72.04 billion, a PE ratio of 12.36, a P/E/G ratio of 1.37 and a beta of 1.09. Enterprise Products Partners has a 12 month low of $27.26 and a 12 month high of $34.63. The stock has a fifty day moving average price of $32.71 and a 200-day moving average price of $31.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS 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 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 business posted $0.72 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.44%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Enterprise Products Partners by 2,854.1% during the 3rd 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 lifted its holdings in shares of 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 purchasing an additional 9,353 shares during the period. Wealth Enhancement Advisory Services LLC boosted 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 buying an additional 14,760 shares during the last quarter. Modera Wealth Management LLC raised its position in Enterprise Products Partners by 4.5% during the 3rd 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 raised its position in Enterprise Products Partners by 5.2% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors 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.