Enterprise Products Partners L.P. (NYSE:EPD) Sees Significant Increase in Short Interest

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 15,730,000 shares, an increase of 12.8% from the August 15th total of 13,950,000 shares. Based on an average trading volume of 4,150,000 shares, the short-interest ratio is currently 3.8 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter worth $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $29,000. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.6 %

EPD stock opened at $29.51 on Wednesday. The company has a market cap of $64.08 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The business’s 50-day moving average is $29.21 and its two-hundred day moving average is $28.87. Enterprise Products Partners has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EPD shares. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley dropped their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $33.08.

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.