Enterprise Products Partners Sees Unusually High Options Volume (NYSE:EPD)

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EPD. International Assets Investment Management LLC boosted its holdings in 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 increased its holdings in Enterprise Products Partners by 56.3% in the third quarter. Allworth Financial LP now owns 25,966 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 9,353 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of 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 worth $27,986,000 after acquiring an additional 14,760 shares during the period. Modera Wealth Management LLC boosted its holdings in Enterprise Products Partners by 4.5% in 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 lifted its holdings in Enterprise Products Partners by 5.2% in the 3rd quarter. Insight Folios Inc now owns 277,867 shares of the oil and gas producer’s stock valued at $8,089,000 after purchasing an additional 13,793 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD traded down $0.29 during midday trading on Tuesday, hitting $33.35. 3,501,970 shares of the company traded hands, compared to its average volume of 4,788,269. The stock has a market cap of $72.28 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.37 and a beta of 1.09. The firm has a 50 day moving average of $32.67 and a 200-day moving average of $30.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners has a 52 week low of $27.26 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.70.

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.