Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Update

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 22,930,000 shares, a growth of 6.5% from the November 15th total of 21,530,000 shares. Based on an average trading volume of 3,850,000 shares, the short-interest ratio is presently 6.0 days. Approximately 1.6% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms have commented on EPD. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $34.00.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Enterprise Products Partners by 16.2% during the third quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after purchasing an additional 21,834 shares in the last quarter. Peapack Gladstone Financial Corp boosted its stake in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Synovus Financial Corp grew its stake in Enterprise Products Partners by 20.0% during the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock valued at $1,460,000 after acquiring an additional 8,361 shares in the last quarter. Optimist Retirement Group LLC grew its position in shares of Enterprise Products Partners by 3.3% in the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock valued at $1,953,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in Enterprise Products Partners by 1,183.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock valued at $2,670,000 after buying an additional 84,578 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.29 during mid-day trading on Tuesday, reaching $31.29. 2,958,581 shares of the company traded hands, compared to its average volume of 4,302,492. The firm’s fifty day moving average is $30.87 and its two-hundred day moving average is $29.71. The company has a market capitalization of $67.82 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Enterprise Products Partners has a fifty-two week low of $26.02 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 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 firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.71%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

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.