The stock of Enterprise Products Partners L.P. (NYSE:EPD) is now priced at $18.12 and the shares are -0.04 points down or -0.22% lower compared to its previous closing price of $18.16. The stock had 6.644 million contracts set over the past session. EPD shares’ daily volume is compared to its average trading volume at 7.46 million shares. However, it has a float of 1470 million and although its performance was -3.87% over the week, it’s one to watch. Analysts have given the EPD stock a yearly average price target of $24.59 per share. It means the stock’s upside potential is 35.71% with the EPD share price recently placing at $17.78 to $18.13. However, some brokerage firms have priced the stock below the average, including one that has called $21.
The shorts are running away from the Enterprise Products Partners L.P. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EPD shares have declined. Short interest in the stock represents just 2.09% of its float, but the volume has dropped by 0.
In the last trading session, Enterprise Products Partners L.P. (NYSE:EPD) dropped by -$0.73 over the week and lost -$0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $29.56. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $10.27 at 76.44%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.41. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Enterprise Products Partners L.P.’s two-week RSI is 47.74. This suggests that the stock is neutral at the moment and that EPD shares’ price movement remains stable. The stochastic readings are equally revealing at 47.31% meaning the EPD share price is currently in neutral territory.
The technical chart shows that the EPD stock will likely settle at between $18.24 and $18.36 per share. However, if the stock dips below $17.89, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $17.66.
Currently, the stock is trading in the red of MACD, with a reading of -0.32. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler raised their recommendation for EPD from Neutral to Overweight in July 09 review while maintain their target price of $22. Wolfe Research analysts downgraded their recommendation of the stock from Outperform to Peer Perform in a flash note released to investors on April 13. Piper Sandler seeing the stock struggling downgraded it from Overweight to Neutral on March 09 placing it at $32 to $24.
The average rating for the EPD equity is 1.72 and is currently gathering a bullish momentum. Of 24 analysts tracking Enterprise Products Partners L.P. polled by Reuters, 2 rated EPD as a hold. The remaining 22 analysts were split evenly. However, the split wasn’t equal as a majority (22) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the EPD stock price is 9.47X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 8.8 below the group’s average of 41.1. Enterprise Products Partners L.P. has its P/E ratio at 1.6, which means that the stock is currently trading at a premium relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Enterprise Products Partners L.P. (NYSE:EPD) will increase by about 34.18%, which will see them reach $7290 million. The company’s full-year revenues are, however, expected to diminish by about -12.96%, down from $32800 million to $28500 million. EPD’s expected adjusted earnings should surge almost 4.35% to end up at $0.48 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -1.91% to record $2.05/share.