ALPS Advisors, Inc. has recently announced that it has increased stake in Enterprise Products Partners L P (NYSE:EPD) by 20.17%. After grabbing 37.95 million shares, the institutional investor is now in possession of 6.37 million shares of the Energy Company. The new investment brought the stake of investor firm to 1.75% having worth around $1.02 billion. Moreover, Harvest Fund Advisors LLC increased its share by 2.47 million to have a control over 23.13 million shares. And Fayez Sarofim & Co. raised its holdings to 0.97 million shares by acquiring 17.6 million shares or 0.81% of the stake.
Enterprise Products Partners L P (EPD) concluded trading on December 20, 2023 at a closing price of $26.03, with 4.51 million shares of worth about $117.51 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.04% during that period and On Wednesday the price saw a loss of about -0.91%. Currently the company’s common shares owned by public are about 2.17B shares, out of which, 1.43B shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 74 times over the past 12 months. They bought 1,239,252 shares in 43 of the transactions. In 31 selling transactions, insiders dumped 448,365 shares.
Alerian MLP ETF, BlackRock Equity Dividend Fund, and Global X MLP ETF are the top 3 mutual funds which are holding stakes in Enterprise Products Partners L P Alerian MLP ETF is currently holding 38.52 million shares of worth totaling $1.03 billion. The company recently came selling 5395.0 shares which brought its stake up to 1.77% of the company’s outstanding shares. BlackRock Equity Dividend Fund sold -0.26 million shares, after which its hold over company’s outstanding shares shrunk to 0.62%, leaving 13.45 million shares with the mutual fund that have a worth of about $360.07 million. Global X MLP ETF, after selling 7.62 million shares, have now control over 0.35% of the stake in the company. It holds 9380.0 shares of worth $204.04 million.
However, the stock later moved at a day high price of 26.33, or with a loss of -0.91%. Stock saw a price change of -0.65% in past 5 days and over the past one month there was a price change of -0.88%. Year-to-date (YTD), EPD shares are showing a performance of 7.92% which increased to 10.86% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.14 but also hit the highest price of $27.95 during that period. The average intraday trading volume for Enterprise Products Partners L P shares is 4.82 million. The stock is currently trading -1.67% below its 20-day simple moving average (SMA20), while that difference is down -2.36% for SMA50 and it goes to -1.48% lower than SMA200.
ALPS Advisors, Inc. acquired 37.95 million shares of Enterprise Products Partners L P having value of about $1.02 billion. Data submitted at the U.S SEC by ALPS Advisors, Inc. revealed that the firm now holds 6.37 million shares in the company valued at close to $165794180.5, or have control over 20.17% stake in the company. Enterprise Products Partners L P (NYSE: EPD) currently have 2.17B outstanding shares and institutions hold larger chunk of about 25.02% of that. Holding of mutual funds in the company is about 14.90% while other institutional holders and individual stake holders have control over 41.45% and 10.20% of the stake respectively.
The stock has a current market capitalization of $56.53B and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 10.62, while it has posted earnings per share of $2.45 in the same period. Its PEG reads 1.77 and has Quick Ratio of 0.65 while making debt-to-equity ratio of 1.08. 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 1.12% while standing at 1.14% over the month.
Analysts are in expectations that Enterprise Products Partners L P (EPD) stock would likely to be making an EPS of $0.68 in the current quarter, while forecast for next quarter EPS is $0.64 and it is $2.64 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.63 which is $0.71 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 $0.65 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -0.95% while it is estimated to increase by 6.30% in next year. EPS is likely to shrink at an annualized rate of 6.00% for next 5-years, compared to annual growth of 13.78% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on October 06, 2023 offering a Neutral rating for the stock and assigned a target price of $28 to it.
