Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Up 12.8% in August

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,730,000 shares, an increase of 12.8% from the August 15th total of 13,950,000 shares. Based on an average daily volume of 4,150,000 shares, the short-interest ratio is presently 3.8 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EPD. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC bought a new position in Enterprise Products Partners in the first quarter worth $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the first quarter valued at $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.51 on Wednesday. The stock has a market capitalization of $64.08 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a fifty day moving average of $29.21 and a 200-day moving average of $28.87. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

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.