Short Interest in Enterprise Products Partners L.P. (NYSE:EPD) Declines By 5.8%

Enterprise Products Partners L.P. (NYSE:EPD) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 21,540,000 shares, a drop of 5.8% from the December 15th total of 22,860,000 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 4,000,000 shares, the days-to-cover ratio is currently 5.4 days.

Enterprise Products Partners Trading Down 0.2 %

Shares of EPD opened at $33.60 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $72.82 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. The stock has a fifty day moving average price of $32.07 and a two-hundred day moving average price of $30.22. Enterprise Products Partners has a 52-week low of $26.12 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts predict that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EPD. Trust Co. of Vermont lifted its position in Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares during the period. Evanson Asset Management LLC lifted its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the period. Sandbox Financial Partners LLC lifted its holdings in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares during the period. Armstrong Advisory Group Inc. grew its holdings in Enterprise Products Partners by 4.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after acquiring an additional 329 shares during the period. Finally, Curi RMB Capital LLC raised its position in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EPD. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.60.

About Enterprise Products Partners

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.