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

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of some unusual options trading on Tuesday. Traders purchased 48,676 call options on the stock. This is an increase of 227% compared to the typical daily volume of 14,865 call options.

Enterprise Products Partners Trading Down 2.0%

NYSE EPD opened at $30.86 on Thursday. Enterprise Products Partners has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a market cap of $66.93 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.37 and a beta of 0.65. The stock’s fifty day moving average price is $31.06 and its 200-day moving average price is $32.25. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing 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 $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.93%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EPD. Barclays reduced their target price on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 20th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank upped their price target 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. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, Citigroup reduced their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the stock. ING Groep NV purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at $71,052,000. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after buying an additional 1,506,055 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other 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.