Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Update

Enterprise Products Partners L.P. (NYSE:EPD) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,530,000 shares, a growth of 6.1% from the March 15th total of 17,470,000 shares. Based on an average daily volume of 4,940,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank increased their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, 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. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $32.58.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EPD. Howard Financial Services LTD. increased its stake in shares of Enterprise Products Partners by 1.6% in the first quarter. Howard Financial Services LTD. now owns 87,675 shares of the oil and gas producer’s stock valued at $2,558,000 after buying an additional 1,371 shares in the last quarter. Pasadena Private Wealth LLC increased its stake in shares of Enterprise Products Partners by 11.6% in the first quarter. Pasadena Private Wealth LLC now owns 28,515 shares of the oil and gas producer’s stock valued at $832,000 after buying an additional 2,968 shares in the last quarter. Overbrook Management Corp acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at $1,155,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Enterprise Products Partners by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 910,198 shares of the oil and gas producer’s stock valued at $26,560,000 after buying an additional 28,767 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of Enterprise Products Partners by 511.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 68,076 shares of the oil and gas producer’s stock valued at $1,986,000 after buying an additional 56,938 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.14 during trading hours on Tuesday, reaching $28.37. The stock had a trading volume of 2,158,502 shares, compared to its average volume of 4,904,821. The business’s fifty day moving average is $28.18 and its two-hundred day moving average is $27.23. 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 company has a market cap of $61.51 billion, a price-to-earnings ratio of 11.23 and a beta of 1.02. Enterprise Products Partners has a twelve month low of $25.19 and a twelve month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners will post 2.62 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.26%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

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.