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

Enterprise Products Partners L.P. (NYSE:EPD) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 18,530,000 shares, an increase of 6.1% from the March 15th total of 17,470,000 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 4,940,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in Enterprise Products Partners in the second quarter worth $26,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Pacific Center for Financial Services bought a new position in Enterprise Products Partners during the first quarter valued at about $27,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at about $28,000. Finally, Financial Freedom LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $38,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $28.40 on Thursday. The firm has a market capitalization of $61.57 billion, a P/E ratio of 11.27 and a beta of 1.02. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.99. The stock has a 50 day moving average price of $28.27 and a two-hundred day moving average price of $27.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities analysts forecast that Enterprise Products Partners will post 2.62 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is 81.75%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Truist Financial upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.58.

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.