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

Key Points

• Traders have purchased a significant volume of call options for Enterprise Products Partners, with a total of 30,862 call options bought, marking a 143% increase over the average daily volume.
• Insider transactions have seen Director William Montgomery and Director John Rutherford increase their positions, acquiring shares valued at approximately $504,800 and $470,250, respectively.
• Enterprise Products Partners reported a quarterly earnings miss, with earnings per share of $0.66 against the expectation of $0.67, accompanied by a 15.7% decline in revenue year-over-year.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors bought 30,862 call options on the stock. This represents an increase of 143% compared to the average daily volume of 12,726 call options.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $28,000. Winnow Wealth LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $29,000. Finally, Security National Bank acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $30,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EPD. Barclays decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. TD Cowen began coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Scotiabank cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.82.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.00 during trading hours on Wednesday, reaching $30.76. 297,326 shares of the company's stock were exchanged, compared to its average volume of 4,510,137. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a market capitalization of $66.61 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.18 and a beta of 0.64. The business has a fifty day moving average of $31.50 and a two-hundred day moving average of $31.24. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same period in the prior year, the company posted $0.64 EPS. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Enterprise Products Partners Company Profile

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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