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

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 11,514 call options on the company. This is an increase of 95% compared to the average daily volume of 5,896 call options.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $37.45 on Wednesday. The stock has a market cap of $80.87 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.32 and a beta of 0.48. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a 50 day moving average price of $37.64 and a 200-day moving average price of $37.31. Enterprise Products Partners has a one year low of $30.02 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, October 29th. The oil and gas producer reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Enterprise Products Partners had a return on equity of 21.50% and a net margin of 10.24%. The firm had revenue of $17.95 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 49.3% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners will post 3.11 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s payout ratio is presently 74.17%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in EPD. M Holdings Securities Inc. bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $1,338,000. Avantax Planning Partners Inc. grew its position in shares of Enterprise Products Partners by 11.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 38,858 shares of the oil and gas producer’s stock worth $1,384,000 after buying an additional 4,106 shares during the last quarter. 180 Wealth Advisors LLC grew its position in shares of Enterprise Products Partners by 30.6% in the 3rd quarter. 180 Wealth Advisors LLC now owns 69,565 shares of the oil and gas producer’s stock worth $2,477,000 after buying an additional 16,291 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Enterprise Products Partners by 77.8% during the 3rd quarter. Parallel Advisors LLC now owns 86,664 shares of the oil and gas producer’s stock worth $3,086,000 after acquiring an additional 37,930 shares in the last quarter. Finally, United Advisor Group LLC raised its stake in shares of Enterprise Products Partners by 4.9% during the 3rd quarter. United Advisor Group LLC now owns 72,878 shares of the oil and gas producer’s stock worth $2,595,000 after acquiring an additional 3,414 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EPD. Truist Financial upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Friday, October 30th. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. The Goldman Sachs Group restated a “neutral” rating on shares of Enterprise Products Partners in a report on Monday. Finally, Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.18.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.