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

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a significant growth in short interest in 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 shares of the company are sold short. Based on an average daily volume of 3,600,000 shares, the short-interest ratio is presently 5.4 days.

Enterprise Products Partners Stock Up 0.9 %

Shares of Enterprise Products Partners stock traded up $0.28 during midday trading on Friday, reaching $31.09. 5,536,140 shares of the company’s stock traded hands, compared to its average volume of 4,295,243. The company has a market cap 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. The company’s 50 day simple moving average is $29.44 and its 200 day simple moving average is $29.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. Enterprise Products Partners has a 52 week low of $25.95 and a 52 week high of $31.33.

Enterprise Products Partners (NYSE:EPD) last announced its 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 during 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 business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. Equities analysts expect that Enterprise Products Partners will post 2.69 earnings per share 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. Shareholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.75%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the company. Blackstone Inc. lifted its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares during the period. Energy Income Partners LLC lifted its holdings in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after buying an additional 142,689 shares during the period. FMR LLC lifted its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in 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 worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America began 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. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.00.

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.