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

Enterprise Products Partners L.P. (NYSE:EPD) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 16,470,000 shares, an increase of 8.0% from the May 15th total of 15,250,000 shares. Based on an average daily volume of 4,350,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 1.1% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages have weighed in on EPD. Wells Fargo & Company upped their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, Barclays increased their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.77.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $221,000. Envestnet Asset Management Inc. raised its stake in shares of Enterprise Products Partners by 13.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 917,823 shares of the oil and gas producer’s stock worth $25,121,000 after buying an additional 109,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $263,000. Invesco Ltd. increased its stake in Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock valued at $278,213,000 after purchasing an additional 969,199 shares in the last quarter. Finally, Institutional & Family Asset Management LLC increased its stake in Enterprise Products Partners by 4.6% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 111,651 shares of the oil and gas producer’s stock valued at $3,056,000 after purchasing an additional 4,872 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.2 %

Shares of NYSE EPD opened at $28.31 on Wednesday. The stock has a market cap of $61.48 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $29.99. The business has a 50-day moving average price of $28.51 and a 200 day moving average price of $27.77.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Equities research analysts forecast that Enterprise Products Partners will post 2.73 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.28%. Enterprise Products Partners’s payout ratio is 80.78%.

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.