Enterprise Products Partners L.P. (NYSE:EPD) Sees Significant Growth in Short Interest

Enterprise Products Partners L.P. (NYSE:EPD) saw a significant increase in short interest in 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. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,940,000 shares, the days-to-cover ratio is presently 3.8 days.

Enterprise Products Partners Stock Up 0.2 %

Enterprise Products Partners stock opened at $28.40 on Thursday. Enterprise Products Partners has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market capitalization of $61.57 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. The company’s 50 day simple moving average is $28.27 and its 200 day simple moving average is $27.24.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.12% and a return on equity of 19.65%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.62 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC boosted its holdings in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after buying an additional 137,044 shares during the period. Miller Howard Investments Inc. NY increased its holdings in Enterprise Products Partners by 7.1% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock worth $87,299,000 after purchasing an additional 210,603 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in Enterprise Products Partners by 8.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $7,542,000. Finally, Sapient Capital LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $3,271,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Barclays increased their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Scotiabank lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $32.58.

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.