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

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was the recipient of unusually large options trading on Tuesday. Traders acquired 42,811 call options on the stock. This represents an increase of approximately 187% compared to the typical volume of 14,904 call options.

Institutional Trading of Enterprise Products Partners

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Several hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Enterprise Products Partners by 7.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer's stock worth $4,703,000 after acquiring an additional 9,979 shares during the period. Quantum Financial Planning Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $310,000. Westbourne Investment Advisors Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $657,000. Corigliano Investment Advisers LLC bought a new position in Enterprise Products Partners in the 1st quarter worth approximately $4,384,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Enterprise Products Partners by 1.6% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer's stock valued at $60,702,000 after buying an additional 31,652 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.57 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $70.46 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The firm's 50 day moving average price is $31.32 and its 200-day moving average price is $31.45. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $34.63.

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Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $12.02 billion for the quarter, compared to analysts' expectations of $11.83 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The firm's quarterly revenue was down 12.7% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 82.26%.

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Enterprise Products Partners declared that its board has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, October 31st. Morgan Stanley lowered their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. Finally, Scotiabank cut their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Check Out Our Latest Stock Report on EPD

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.

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