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Enterprise Products Partners L.P. (NYSE: EPD): Is It A Life-Changing Stock?

In the last trading session, 3.64 million Enterprise Products Partners L.P. (NYSE:EPD) shares changed hands as the company’s beta touched 1.03. With the company’s per share price at $27.04 changed hands at $0.03 or 0.11% during last session, the market valuation stood at $58.90B. EPD’s last price was a discount, traded about -0.89% off its 52-week high of $27.28. The share price had its 52-week low at $22.90, which suggests the last value was 15.31% up since then. When we look at Enterprise Products Partners L.P.’s average trading volume, we note the 10-day average is 3.15 million shares, with the 3-month average coming to 3.91 million.

Analysts gave the Enterprise Products Partners L.P. (EPD) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 22 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 3 recommended EPD as a Hold, 15 felt it is a Buy and 0 rated the stock as Underweight. Enterprise Products Partners L.P.’s EPS for the current quarter is expected to be $0.64.

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Enterprise Products Partners L.P. (NYSE:EPD) trade information

Instantly EPD was in green as seen at the end of in last trading. With action 1.24%, the performance over the past five days has been green. The jump to weekly highs of 27.20 on Monday, 09/18/23 added 0.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.11%, with the 5-day performance at 1.24% in the green. However, in the 30-day time frame, Enterprise Products Partners L.P. (NYSE:EPD) is 2.54% up. Looking at the short shares, we see there were 15.32 million shares sold at short interest cover period of 3.89 days.

The consensus price target for the stock as assigned by Wall Street analysts is $32.01, meaning bulls need an upside of 15.53% from its current market value. According to analyst projections, EPD’s forecast low is $30.00 with $35.00 as the target high. To hit the forecast high, the stock’s price needs a -29.44% plunge from its current level, while the stock would need to soar -10.95% for it to hit the projected low.

Enterprise Products Partners L.P. (EPD) estimates and forecasts

Data shows that the Enterprise Products Partners L.P. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.86% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 2.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Enterprise Products Partners L.P. will rise 3.20%, while the growth in revenue is estimated to hit 6.20% for the next quarter. Year-over-year growth is forecast to reach -15.30% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $11.91 billion. 2 analysts are of the opinion that Enterprise Products Partners L.P.’s revenue for the quarter ending Dec 2023 will be $12.62 billion. The company’s revenue for the corresponding quarters a year ago was $14.2 billion and $13.65 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -16.20%. The estimates for the next quarter sales put growth at -7.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 13.90%. The 2023 estimates are for Enterprise Products Partners L.P. earnings to increase by 18.60%, but the outlook for the next 5-year period is at 5.40% per year.

EPD Dividends

Enterprise Products Partners L.P. is expected to release its next quarterly earnings report in October. The 7.40% annual yield figure for the share gives it an annual dividend of 2.00. It is important to note, however, that the 7.40% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Enterprise Products Partners L.P. (NYSE:EPD)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 32.66% of Enterprise Products Partners L.P. shares while 26.71% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.67%. There are 26.71% institutions holding the Enterprise Products Partners L.P. stock share, with Marquard & Bahls Ag the top institutional holder. As of Jun 29, 2023, the company held 1.70% of the shares, roughly 36.95 million EPD shares worth $973.56 million.

Alps Advisors Inc. holds the second largest percentage of outstanding shares, with 1.45% or 31.58 million shares worth $832.19 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of May 30, 2023 were Alps ETF Tr-Alerian MLP ETF and Blackrock Equity Dividend Fund. With 30.97 million shares estimated at $784.48 million under it, the former controlled 1.43% of total outstanding shares. On the other hand, Blackrock Equity Dividend Fund held about 0.78% of the shares, roughly 16.87 million shares worth around $443.79 million.

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