Is Enterprise Products Partners L.P. (NYSE: EPD) Proving The Doubters Wrong?

Harvest Fund Advisors LLC has recently announced that it has increased stake in Enterprise Products Partners L.P. (NYSE:EPD) by 26.07%. After grabbing 20.66 million shares, the institutional investor is now in possession of 4.27 million shares of the Energy Company. The new investment brought the stake of investor firm to 0.95% having worth around $547.72 million. Moreover, Fayez Sarofim & Co. increased its share by 62558.0 to have a control over 16.63 million shares. And Tortoise Capital Advisors LLC raised its holdings to 3.8 million shares by acquiring 15.79 million shares or 0.73% of the stake.

Enterprise Products Partners L.P. (EPD) concluded trading on 09/14/23 at a closing price of $27.09, with 3.63 million shares of worth about $98.34 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.63% during that period and on Thursday the price saw a gain of about 0.48%. Currently the company’s common shares owned by public are about 2.17B shares, out of which, 1.46B shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the EPD stock and their offered price forecasts bring an average price target of $32.01. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $35.00 and could fall to a lowest price of $30.00. The stock’s current price level is 15.92% above of average price target set by the analysts, while a rise to estimated low would result in gain of 9.7% for the stock. However, touching the estimated high of $35.00 would mean a gain of 22.6% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 1,261,502 shares in 45 of the transactions. In 32 selling transactions, insiders dumped 449,465 shares.

Alerian MLP ETF, BlackRock Equity Dividend Fund, and Kayne Anderson MLP/Midstream Inve are the top 3 mutual funds which are holding stakes in Enterprise Products Partners L.P. Alerian MLP ETF is currently holding 30.98 million shares of worth totaling $821.23 million. The company recently came buying 18024.0 shares which brought its stake up to 1.43% of the company’s outstanding shares. BlackRock Equity Dividend Fund sold -0.19 million shares, after which its hold over company’s outstanding shares shrunk to 0.64%, leaving 13.88 million shares with the mutual fund that have a worth of about $367.94 million. Kayne Anderson MLP/Midstream Inve, after buying 7.28 million shares, have now control over 0.34% of the stake in the company. It holds 0.0 shares of worth $193.03 million.

Enterprise Products Partners L.P. (NYSE: EPD) started trading at $26.99, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 27.17, or with a gain of 0.48%. Stock saw a price change of 1.88% in past 5 days and over the past one month there was a price change of 1.92%. Year-to-date (YTD), EPD shares are showing a performance of 12.31% which increased to 2.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.90 but also hit the highest price of $27.28 during that period. The average intraday trading volume for Enterprise Products Partners L.P. shares is 3.91 million. The stock is currently trading 1.92% above its 20-day simple moving average (SMA20), while that difference is up 1.70% for SMA50 and it goes to 4.69% higher than SMA200.

Harvest Fund Advisors LLC acquired 20.66 million shares of Enterprise Products Partners L.P. having value of about $547.72 million. Data submitted at the U.S SEC by Harvest Fund Advisors LLC revealed that the firm now holds 4.27 million shares in the company valued at close to $115739207.64, or have control over 26.07% stake in the company. Enterprise Products Partners L.P. (NYSE: EPD) currently have 2.17B outstanding shares and institutions hold larger chunk of about 27.20% of that. Holding of mutual funds in the company is about 41.45% while other institutional holders and individual stake holders have control over 9.65% and 14.66% of the stake respectively.

The stock has a current market capitalization of $58.59B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 10.99, while it has posted earnings per share of $2.46 in the same period. Its PEG reads 2.04 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EPD, volatility over the week remained 0.83% while standing at 0.98% over the month.

Analysts are in expectations that Enterprise Products Partners L.P. (EPD) stock would likely to be making an EPS of $0.64 in the current quarter, while forecast for next quarter EPS is $0.69 and it is $2.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.6 which is $0.67 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 18.60% while it is estimated to increase by 5.56% in next year. EPS is likely to shrink at an annualized rate of 5.40% for next 5-years, compared to annual growth of 13.90% made by the stock over the past 5-years.

Analysts at 22 brokerage firms have issued recommendations for the Enterprise Products Partners L.P. (EPD)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 22 Wall Street analysts, 15 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.