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

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 26,765 call options on the company. This is an increase of approximately 78% compared to the typical daily volume of 15,068 call options.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. 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 research report on Wednesday, December 18th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.96 on Friday. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a market cap of $73.54 billion, a P/E ratio of 12.62, 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 firm has a 50-day moving average of $33.45 and a 200-day moving average of $31.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.30%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont grew its holdings in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares during the period. Griffin Asset Management Inc. lifted its position in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC increased its stake in shares of Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after acquiring an additional 309 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.