Enterprise Products Partners L.P. (NYSE: EPD) shares rose in value in early trading today on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile in early trading, the Dow Jones Industrial Average DJIA, +0.31% rose 24 points, or 0.1%, to 19,883, while the S&P 500 index ESH7, +0.13% dipped less than 1 point to 2,268. The Nasdaq Composite COMP, +0.02% which reached its fourth-straight record close on Tuesday, rose 1 point to 5,553.
Analysts at Vetr Inc. upgraded shares of Enterprise Products Partners L.P. (NYSE: EPD) from Buy to Strong-Buy today. With a rating of Strong-Buy on the stock, Enterprise Products Partners L.P. has a 52-week high of $30.11. The one-year price target of $31.92 is above the opening price of $27.13, resulting a fair amount of other analysts to report on the company recently. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
Yesterday Enterprise Products Partners L.P. (NYSE: EPD) shares last traded at $27.27, which represents an increase of $0.43 from the previous closing price. Opening at $27.13, they ranged from $27.00 and $27.29 throughout the day.
Enterprise Products Partners L.P. (NYSE: EPD) currently has a market cap of 57.31B.
Enterprise Products Partners L.P. (NYSE: EPD) Average Daily Trading Volume
476,162 shares crossed the trading desk yesterday, 29 percent below normal, out of a total float 1,408,275,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
Enterprise Products Partners L.P. (NYSE: EPD) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Enterprise Products Partners L.P. (NYSE: EPD) have ranged from $19.00 – 30.110, and the stock now has a 50-day MA of $26.24 and 200-day MA of $26.91. Today’s last price is 9.45%% below the 52 week high of $30.11.
Earnings growth is a crucial factor to consider when buying stocks and investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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