Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Up 22.7% in October

Enterprise Products Partners L.P. (NYSE:EPD) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 19,380,000 shares, a growth of 22.7% from the October 15th total of 15,800,000 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 3,600,000 shares, the short-interest ratio is presently 5.4 days.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners in the third quarter worth about $2,628,000. O Shaughnessy Asset Management LLC lifted its holdings 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 valued at $685,000 after buying an additional 3,770 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in shares of Enterprise Products Partners by 5.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock worth $13,895,000 after purchasing an additional 26,136 shares during the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after acquiring an additional 154,822 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reaffirmed 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 started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.28 during trading on Friday, hitting $31.09. 5,536,140 shares of the company’s stock traded hands, compared to its average volume of 4,295,243. The stock has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. Enterprise Products Partners has a 52 week low of $25.95 and a 52 week high of $31.33. The stock has a fifty day moving average price of $29.44 and a two-hundred day moving average price of $29.06. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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 the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.