ALPS Advisors, Inc. recently announced the acquisition of new stake in Enterprise Products Partners L P (NYSE:EPD). The institutional investor has increased its shareholding in the Energy company by 20.17% to 37.95 million shares with purchase of 6.37 million shares. This fresh investment now brings its stake to 1.75% valued currently at $1.0 billion. In addition, Harvest Fund Advisors LLC raised its holdings by 2.47 million to 23.13 million shares. And Fayez Sarofim & Co. has lifted its position by 5.81% or 0.97 million shares – to 17.6 million shares.
Currently, there are 2.17B common shares owned by the public and among those 1.43B shares have been available to trade.
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Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 1,226,952 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 444,715 shares.
The top 3 mutual fund holders in Enterprise Products Partners L P are Alerian MLP ETF, BlackRock Equity Dividend Fund, and Global X MLP ETF. Alerian MLP ETF owns 34.57 million shares of the company’s stock, all valued at over $910.89 million. BlackRock Equity Dividend Fund sold -0.22 million shares to see its total holdings shrink to 13.22 million shares valued at over $348.43 million and representing 0.61% of the shares outstanding. Global X MLP ETF bought 9380.0 shares to bring its total holdings to over 7.5 million shares at a value of $197.52 million. Global X MLP ETF now owns shares totaling to 0.35% of the shares outstanding.
However, the script later moved the day high at 27.08, up 0.67%. The company’s stock has a 5-day price change of 0.04% and -1.99% over the past three months. EPD shares are trading 2.54% year to date (YTD), with the 12-month market performance up to 6.00% higher. It has a 12-month low price of $24.66 and touched a high of $27.95 over the same period. EPD has an average intraday trading volume of 4.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.66%, 2.18%, and 1.84% respectively.
Institutional ownership of Enterprise Products Partners L P (NYSE: EPD) shares accounts for 24.98% of the company’s 2.17B shares outstanding. Mutual fund holders own 41.45%, while other institutional holders and individual stakeholders account for 9.82% and 15.23% respectively.
It has a market capitalization of $58.68B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 11.02, while the earnings-per-share (ttm) stands at $2.45. The company has a PEG of 1.97 and a Quick Ratio of 0.65 with the debt-to-equity ratio at 1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.16% over the week and 1.12% over the month.
Analysts forecast that Enterprise Products Partners L P (EPD) will achieve an EPS of $Air Products and Chemicals, Inc for the current quarter, $260.93 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Consolidated Edison, Inc. while analysts give the company a high EPS estimate of $EPR Properties. Comparatively, EPS for the current quarter was $WisdomTree India Earnings Fund a year ago. Earnings per share for the fiscal year are expected to decrease by -0.99%, and 6.10% over the next financial year. EPS should shrink at an annualized rate of 5.60% over the next five years, compared to 13.78% over the past 5-year period.
Looking at the support for the EPD, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on October 06, 2023, with the firm’s price target at $28.
