Moors & Cabot Inc. recently decreased its position in Enterprise Products Partners L.P. by 10.8%, according to their Form 13F filing with the Securities and Exchange Commission (SEC). The cut resulted in a selling of 41,658 shares, leaving them with a total of 343,729 shares, valued at $7,548,000. While this move may have some investors balking at the stock, news from February shows a promising future for Enterprise Products Partners.
In their quarterly earnings report released on February 1st, the oil and gas producer revealed $0.65 earnings per share (EPS), beating analysts’ consensus estimates of $0.60 by $0.05. Despite revenue coming in slightly lower than expected at $13.65 billion compared to an expected $14.74 billion, the company had a net margin of 9.43% and a return on equity of 20.38%. Furthermore, their revenue increased by 20.1% year-over-year.
Looking forward to the current year, industry analysts expect Enterprise Products Partners L.P. to post an impressive earnings per share of 2.58 for shareholders.
Additionally, CEO Aj Teague demonstrated his faith in the company’s growth potential by purchasing 11,950 shares of EPD stock at an average price of $25.15 per share on March 20th – a transaction that totaled over $300k USD.
With insiders holding onto over one-third of the company’s stock and promising financial reports from earlier this year, it appears that Enterprise Products Partners L.P is well-poised for future success in the energy industry.
Investors looking towards long-term gains may see this as an opportune time to acquire stock while also keeping an eye on future developments within the company’s progress in achieving targeted financial goals and performance metrics set forth by management.
Enterprise Products Partners: Recent Institutional Changes and Insider Trading Activity Signal Growth Opportunities
Enterprise Products Partners: A Review of Recent Institutional Changes and CEO Insider Trading Activity
Enterprise Products Partners (NYSE:EPD) has had some significant institutional changes lately, including Bray Capital Advisors lifting its holdings by 333.3% during Q3 2020, and several other firms buying new positions throughout the past year. This news is on top of Enterprise’s recent insider activity, with CEO Aj Teague purchasing almost $301k worth of the company’s stock a few weeks ago.
EPD is currently trading at $26.29, down slightly from yesterday’s close, with a market capitalization of $57.07 billion and a P/E ratio of 10.52. The firm recently declared a quarterly dividend of $0.49 per share to be paid on May 12th to investors of record on April 28th. According to Bloomberg data, EPD has a consensus rating of “Moderate Buy” and a consensus price target of $30.92.
Several analysts have issued reports on EPD in recent months, including StockNews.com who gave the stock a “buy” rating in mid-March upon coverage initiation, and JPMorgan Chase & Co., Morgan Stanley, Scotiabank, and TD Securities who have all upped their target prices in various reports.
With all these positive signs for Enterprise Products Partners, it comes as no surprise that institutional investors are making moves to increase their stakes in the company. It will be interesting to see if this trend continues over the coming months as EPD heads towards its next earnings report scheduled for April 29th after hours. Until then, investors are keeping a close eye on EPD’s recent institutional changes and insider buying activity as potential indicators of future growth opportunities for this oil and gas producer.
Disclaimer: The information provided above does not constitute financial advice; we urge you to conduct your own research before investing in any security mentioned in this article.
