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

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

Analyst Ratings Changes

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

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of EPD. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the 2nd quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the second quarter valued at about $29,000. DiNuzzo Private Wealth Inc. lifted its position in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its stake in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.9 %

Shares of NYSE EPD traded down $0.29 during trading on Tuesday, hitting $31.29. 2,958,581 shares of the company traded hands, compared to its average volume of 4,302,492. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners has a fifty-two week low of $26.02 and a fifty-two week high of $34.63. The business’s fifty day moving average is $30.87 and its 200 day moving average is $29.71. The firm has a market capitalization of $67.82 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend 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 is currently 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.