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

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JRM Investment Counsel LLC increased its stake in Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after purchasing an additional 10,404 shares during the period. Linscomb & Williams Inc. boosted its holdings in shares of Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after acquiring an additional 29,112 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $314,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Enterprise Products Partners by 37.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock valued at $23,233,000 after acquiring an additional 240,300 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.51 on Wednesday. The company’s fifty day moving average price is $29.21 and its 200 day moving average price is $28.87. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a market capitalization of $64.08 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.03.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Analyst Ratings Changes

Several equities analysts have commented on EPD shares. 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. Morgan Stanley reduced their price objective on shares of 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, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price 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.