Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Up 6.5% in November

Enterprise Products Partners L.P. (NYSE:EPD) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 22,930,000 shares, a growth of 6.5% from the November 15th total of 21,530,000 shares. Based on an average daily trading volume, of 3,850,000 shares, the days-to-cover ratio is presently 6.0 days. Approximately 1.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.29 during mid-day trading on Tuesday, hitting $31.29. 2,958,581 shares of the company were exchanged, compared to its average volume of 4,302,492. The stock has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $29.71. Enterprise Products Partners has a 1-year low of $26.02 and a 1-year high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $67.82 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

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 the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Curi RMB Capital LLC lifted its holdings in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares during the period. Zega Financial LLC increased its holdings in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after purchasing an additional 344 shares in the last quarter. Tranquility Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares during the period. Princeton Global Asset Management LLC boosted its holdings in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. grew its position in Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.