Saturday, September 26, 2020

Enterprise Products Partners L.P. [EPD] Is Currently 2.11 below its 200 Period Moving Avg: What Dose This Mean?

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Enterprise Products Partners L.P. [NYSE: EPD] closed the trading session at $17.40 on 09/09/20. The day’s price range saw the stock hit a low of $17.17, while the highest price level was $17.65. The company report on September 9, 2020 that Enterprise and Customers Amend Crude Oil Agreements; Enterprise Cancelling Midland to Echo 4 Pipeline.

Enterprise Products Partners L.P. (NYSE:EPD) today announced that it and certain of its customers have amended agreements that provide Enterprise the ability to use the partnership’s existing pipelines to support its crude oil transportation agreements and to cancel the 450,000 barrels per day Midland-to-ECHO 4 crude oil pipeline project (“M2E4”). Generally, the amendments provide for the reduction of near term volume commitments in exchange for extending the term of the agreements.

The cancellation of M2E4 will reduce aggregate growth capital expenditures for 2020, 2021 and 2022 by approximately $800 million. Based on currently sanctioned projects, we expect growth capital expenditures, net of contributions from joint venture partners, for 2020, 2021 and 2022 to be approximately $2.8 billion, $1.6 billion and $900 million, respectively. These estimates do not include capital investments associated with our proposed deep water offshore crude oil terminal (“SPOT”), which remains subject to governmental approvals. We do not expect to receive the approvals for SPOT in 2020. As a result of the cancellation, Enterprise expects to record an impairment charge of approximately $45 million to its earnings for the third quarter of 2020.

The stocks have a year to date performance of -38.21 percent and weekly performance of -1.02 percent. The stock has been moved at 1.10 percent over the last six months. The stock has performed -4.97 percent around the most recent 30 days and changed -18.08 percent over the most recent 3-months.

If compared to the average trading volume of 7.47M shares, EPD reached to a volume of 8772168 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Enterprise Products Partners L.P. [EPD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EPD shares is $24.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EPD stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Enterprise Products Partners L.P. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 09, 2020. The new note on the price target was released on April 13, 2020, representing the official price target for Enterprise Products Partners L.P. stock. Previously, the target price had yet another drop from $32 to $24, while Piper Sandler kept a Neutral rating on EPD stock.

The Average True Range (ATR) for Enterprise Products Partners L.P. is set at 0.46, with the Price to Sales ratio for EPD stock in the period of the last 12 months amounting to 1.31. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.59.

EPD stock trade performance evaluation

Enterprise Products Partners L.P. [EPD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.02. With this latest performance, EPD shares dropped by -4.97% in over the last four-week period, additionally plugging by 1.10% over the last 6 months – not to mention a drop of -39.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EPD stock in for the last two-week period is set at 45.03, with the RSI for the last a single of trading hit 41.90, and the three-weeks RSI is set at 44.08 for Enterprise Products Partners L.P. [EPD]. The present Moving Average for the last 50 days of trading for this stock 17.90, while it was recorded at 17.33 for the last single week of trading, and 20.77 for the last 200 days.

Enterprise Products Partners L.P. [EPD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Enterprise Products Partners L.P. [EPD] shares currently have an operating margin of +16.61 and a Gross Margin at +16.95. Enterprise Products Partners L.P.’s Net Margin is presently recorded at +14.03.

Return on Total Capital for EPD is now 10.38, given the latest momentum, and Return on Invested Capital for the company is 9.21. Return on Equity for this stock inclined to 18.77, with Return on Assets sitting at 7.69. When it comes to the capital structure of this company, Enterprise Products Partners L.P. [EPD] has a Total Debt to Total Equity ratio set at 112.41. Additionally, EPD Total Debt to Total Capital is recorded at 52.92, with Total Debt to Total Assets ending up at 45.09. Long-Term Debt to Equity for the company is recorded at 104.24, with the Long-Term Debt to Total Capital now at 49.08.

Reflecting on the efficiency of the workforce at the company, Enterprise Products Partners L.P. [EPD] managed to generate an average of $625,151 per employee. Receivables Turnover for the company is 7.59 with a Total Asset Turnover recorded at a value of 0.55.Enterprise Products Partners L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for Enterprise Products Partners L.P. [EPD] stock

With the latest financial reports released by the company, Enterprise Products Partners L.P. posted 0.46/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EPD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enterprise Products Partners L.P. go to -3.68%.

Enterprise Products Partners L.P. [EPD]: Insider Ownership positions

There are presently around $13,747 million, or 34.90% of EPD stock, in the hands of institutional investors. The top three institutional holders of EPD stocks are: BLACKSTONE GROUP INC with ownership of 76,906,182, which is approximately 237.952% of the company’s market cap and around 0.20% of the total institutional ownership; HARVEST FUND ADVISORS LLC, holding 56,197,039 shares of the stock with an approximate value of $977.83 million in EPD stocks shares; and GOLDMAN SACHS GROUP INC, currently with $768.28 million in EPD stock with ownership of nearly -9.781% of the company’s market capitalization.

Positions in Enterprise Products Partners L.P. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 404 institutional holders increased their position in Enterprise Products Partners L.P. [NYSE:EPD] by around 94,370,474 shares. Additionally, 486 investors decreased positions by around 76,956,791 shares, while 194 investors held positions by with 618,752,844 shares. The mentioned changes placed institutional holdings at 790,080,109 shares, according to the latest SEC report filing. EPD stock had 76 new institutional investments in for a total of 14,827,151 shares, while 97 institutional investors sold positions of 4,562,328 shares during the same period.

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