Short Interest in Enterprise Products Partners L.P. (NYSE:EPD) Grows By 28.2%

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 13,950,000 shares, an increase of 28.2% from the July 31st total of 10,880,000 shares. Based on an average daily trading volume, of 4,220,000 shares, the short-interest ratio is currently 3.3 days. Approximately 1.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms recently commented on EPD. JPMorgan Chase & Co. reduced their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Trading Up 0.3 %

Shares of NYSE EPD traded up $0.09 during midday trading on Friday, reaching $29.34. 2,558,561 shares of the stock were exchanged, compared to its average volume of 5,174,673. The company has a market capitalization of $63.68 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.50 and a beta of 1.04. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $29.17 and a 200-day moving average price of $28.70.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the second quarter valued at approximately $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth $29,000. Finally, Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth $28,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.