Independent oil and gas related stocks missed the bigger part of the September’s rally. There has been a clear revival in the industry over the past week as the near month crude oil futures broke out above their 50 day SMA. $EPD was listed under number 46 in the last edition of StockTwits 50. The stock spend the better part of September, consolidating above its rising 20 day SMA.
Enterprise Products Part, Inc beat its analysts’ consensus estimates for last three quarters. Three weeks before their last earnings report on July 26th, the stock started to move. It appreciated 13% in expectation of another positive announcement. The stock recently broke out to a new all time high and it seems like the pattern from last quarter will be repeated. The next earnings report is scheduled for October 26th, BMO.
Going long here with a stop just below $38.50 offers good risk to reward ratio.