Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Update

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

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.08 during trading hours on Friday, hitting $33.60. The company had a trading volume of 3,853,513 shares, compared to its average volume of 2,982,659. The business has a fifty day moving average of $32.07 and a 200-day moving average of $30.23. 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 firm has a market cap of $72.82 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. Enterprise Products Partners has a 12 month low of $26.12 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results 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 net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm's revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners's payout ratio is 78.65%.

Wall Street Analyst Weigh In

EPD has been the subject of several analyst reports. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a "sector perform" rating and a $33.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. 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 buying an additional 7,494,224 shares in the last quarter. Barclays PLC increased its stake in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC raised its holdings in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer's stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. FMR LLC lifted its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $30,746,000. Institutional investors own 26.07% of the company's stock.

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.