Sunday, June 26, 2022

An Analysis of Enterprise Products Partners L.P. (EPD)’s Potential Price Growth

In a filing, Enterprise Products Partners L.P. revealed its Director Rutherford John R acquired Company’s shares for reported $0.26 million on May 12. In the deal valued at $25.74 per share,10,000 shares were bought. As a result of this transaction, Rutherford John R now holds 107,441 shares worth roughly $ 2.63 million.

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Then, Rutherford John R bought 15,000 shares, generating $356,415 in total proceeds. Upon buying the shares at $23.76, the Director now owns 97,441 shares.

Before that, Rutherford John R bought 10,000 shares. Enterprise Products Partners L.P. shares valued at $237,205 were divested by the Director at a price of $23.72 per share. As a result of the transaction, Rutherford John R now holds 78,716 shares, worth roughly $1.92 million.

PT values the company’s stock at a premium of 9.44 to its Tuesday closing price. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in early April from “an Outperform” to “an In-line”. Citigroup also remained covering EPD and has decreased its forecast on February 01, 2022 with a “Neutral” recommendation from previously “Buy” rating. Citigroup revised its rating on January 31, 2022. It rated EPD as “a Neutral” which previously was an “a Buy”.

Price Performance Review of EPD

On Tuesday, Enterprise Products Partners L.P. [NYSE:EPD] saw its stock jump 4.26% to $24.45. On the same session, the stock had its day’s lowest price of $23.91, but rose to a high of $24.545. Over the last five days, the stock has lost -8.36%. Enterprise Products Partners L.P. shares have risen nearly 11.34% since the year began. Nevertheless, the stocks have risen 1.66% over the past one year. While a 52-week high of $28.65 was reached on 06/08/22, a 52-week low of $20.42 was recorded on 01/03/22. SMA at 50 days reached $26.63, while 200 days put it at $24.10. A total of 6.93 million shares were traded, compared to the trading of 11.37 million shares in the previous session.

Levels Of Support And Resistance For EPD Stock

The 24-hour chart illustrates a support level at 24.06, which if violated will result in even more drops to 23.67. On the upside, there is a resistance level at 24.69. A further resistance level may holdings at 24.94. The Relative Strength Index (RSI) on the 14-day chart is 33.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.93%. Stochastics %K at 13.17% indicates the stock is a buying.

Enterprise Products Partners L.P. [EPD] – Who Are The Largest Shareholders?

In filings from Harvest Fund Advisors LLC, it is revealed that the company now owns 33,303,757 shares, or roughly 1.53% of the outstanding EPD shares. In other words, the investor’s shares have fallen by -532,646 from its previous 13-F filing of 33836403.0. Additionally, ALPS Advisors, Inc. increased 9.95% of its stake after which the total value it holdings stand at $720,225,182, while BlackRock Advisors LLC added 4.70% of its stake to hold $594.66 million in the firm. Over the last quarter, Neuberger Berman Investment Advis purchased 501,154 shares of Enterprise Products Partners L.P., while Fayez Sarofim & Co. bought 78,640 shares. At present, American Century Investment Manag is holding 15,180,587 shares valued at $416.25 million. Energy Income Partners LLC owned 14,066,744 shares of the company at the time of its most recent 13F filing, worth $385.71 million.

According to FactSet, Enterprise Products Partners L.P.’s share price will average $31.05 in the next year, based on opinions of analysts polled by the firm. This is up nearly 32.2 percent from its previous closing price of $23.45. Analysts expect Enterprise Products Partners L.P. stock to reach the higher price of $33.00, while the lowest price estimate is $28.00. However, 24 analysts have rated EPD stock as an Overweight in their predictions for 2022.

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