Enterprise Products Partners L.P. (NYSE:EPD) Sees Large Decrease in Short Interest

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a significant drop in short interest during 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. Based on an average daily volume of 4,000,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 1.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Axxcess Wealth Management LLC grew its stake in Enterprise Products Partners by 59.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after acquiring an additional 5,571 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Enterprise Products Partners by 9.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 142,512 shares of the oil and gas producer’s stock valued at $4,110,000 after acquiring an additional 12,015 shares during the last quarter. WCG Wealth Advisors LLC lifted its holdings in Enterprise Products Partners by 17.1% in the 2nd quarter. WCG Wealth Advisors LLC now owns 32,541 shares of the oil and gas producer’s stock valued at $943,000 after purchasing an additional 4,751 shares in the last quarter. XTX Topco Ltd acquired a new stake in Enterprise Products Partners during the 2nd quarter worth $1,373,000. Finally, Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 5.9% during the second quarter. Brighton Jones LLC now owns 27,208 shares of the oil and gas producer’s stock worth $788,000 after buying an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD stock traded down $0.08 during trading hours on Friday, reaching $33.60. 3,853,513 shares of the company’s stock were exchanged, compared to its average volume of 2,982,659. Enterprise Products Partners has a 1 year low of $26.12 and a 1 year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.82 billion, a PE ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. The stock’s fifty day moving average price is $32.07 and its two-hundred day moving average price is $30.23.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced 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. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. 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, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four 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, the company has an average rating of “Moderate Buy” and an average price target of $34.60.

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.