Enterprise Products Partners L.P. (NYSE:EPD) Short Interest Up 22.7% in October

Enterprise Products Partners L.P. (NYSE:EPD) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 19,380,000 shares, a growth of 22.7% from the October 15th total of 15,800,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 3,600,000 shares, the short-interest ratio is presently 5.4 days.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.28 during midday trading on Friday, reaching $31.09. 5,536,140 shares of the company’s stock were exchanged, compared to its average volume of 4,295,243. Enterprise Products Partners has a 52 week low of $25.95 and a 52 week high of $31.33. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The stock’s 50-day simple moving average is $29.44 and its 200 day simple moving average is $29.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.75%. Enterprise Products Partners’s payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EPD shares. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. US Capital Advisors upgraded 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 report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $34.00.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the stock. Valued Retirements Inc. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $463,000. Executive Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $498,000. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares during the last quarter. LRI Investments LLC lifted its position in shares of Enterprise Products Partners by 84.3% during the 3rd quarter. LRI Investments LLC now owns 43,728 shares of the oil and gas producer’s stock worth $1,347,000 after buying an additional 20,000 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $228,000. 26.07% of the stock is currently owned by institutional investors.

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.