Short Interest in Enterprise Products Partners L.P. (NYSE:EPD) Decreases By 5.8%

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 21,540,000 shares, a drop of 5.8% from the December 15th total of 22,860,000 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 4,000,000 shares, the days-to-cover ratio is currently 5.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton grew its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the period. DiNuzzo Private Wealth Inc. lifted its holdings 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 during the last quarter. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% during 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 during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $36,000. Finally, Bangor Savings Bank raised its position in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $33.60 on Monday. The company has a market capitalization of $72.82 billion, a PE ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average price is $32.07 and its 200-day moving average price is $30.23. Enterprise Products Partners has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EPD. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. 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 target price on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.