Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Up 17.1% in January

Enterprise Products Partners L.P. (NYSE:EPD) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 26,740,000 shares, a growth of 17.1% from the January 15th total of 22,830,000 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 4,480,000 shares, the short-interest ratio is presently 6.0 days.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares during the last quarter. FMR LLC boosted its stake in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in Enterprise Products Partners by 2,862.8% during the 3rd 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 purchasing an additional 7,494,224 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its holdings in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after buying an additional 24,335 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on EPD. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Citigroup upped their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Trading Up 0.9 %

NYSE:EPD traded up $0.31 during trading hours on Monday, hitting $33.52. The company had a trading volume of 4,566,851 shares, compared to its average volume of 5,115,015. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a 50-day moving average price of $32.50 and a 200 day moving average price of $30.79. The company has a market capitalization of $72.65 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners has a 52 week low of $26.64 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts predict that Enterprise Products Partners will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.