Short Interest in Enterprise Products Partners L.P. (NYSE:EPD) Rises By 12.8%

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. Based on an average trading volume of 4,150,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 1.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JRM Investment Counsel LLC raised its stake in Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in Enterprise Products Partners by 16.6% during the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after acquiring an additional 29,112 shares during the period. Natixis Advisors L.P. bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $314,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in 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 buying an additional 240,300 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.10 during trading on Monday, reaching $29.72. The company’s stock had a trading volume of 1,844,660 shares, compared to its average volume of 4,461,014. Enterprise Products Partners has a one year low of $25.61 and a one year high of $30.05. The stock has a market capitalization of $64.54 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $29.20 and a two-hundred day moving average price of $28.84.

Enterprise Products Partners (NYSE:EPD) last announced 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). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.72 EPS for the current fiscal 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 paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.07%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company 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 research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

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.