Short Interest in Enterprise Products Partners L.P. (NYSE:EPD) Declines By 8.5%

Enterprise Products Partners L.P. (NYSE:EPD) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 18,070,000 shares, a decline of 8.5% from the October 15th total of 19,750,000 shares. Based on an average trading volume of 4,260,000 shares, the short-interest ratio is presently 4.2 days. Approximately 1.3% of the company’s shares are sold short.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $25.96 per share, for a total transaction of $259,600.00. Following the transaction, the director now owns 137,423 shares of the company’s stock, valued at approximately $3,567,501.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ellevest Inc. bought a new position in Enterprise Products Partners in the 1st quarter valued at about $25,000. WealthPLAN Partners LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at about $25,000. Mcmillion Capital Management Inc. bought a new position in Enterprise Products Partners in the 2nd quarter valued at about $26,000. Fairfield Bush & CO. bought a new position in Enterprise Products Partners in the 2nd quarter valued at about $26,000. Finally, Pacific Center for Financial Services bought a new position in Enterprise Products Partners in the 1st quarter valued at about $27,000. 26.54% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 1.1 %

Shares of Enterprise Products Partners stock traded up $0.28 during trading hours on Friday, reaching $26.27. 4,891,535 shares of the company’s stock were exchanged, compared to its average volume of 4,433,519. The company has a 50 day moving average of $26.94 and a two-hundred day moving average of $26.52. Enterprise Products Partners has a fifty-two week low of $23.14 and a fifty-two week high of $27.95. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 0.97. The stock has a market cap of $57.06 billion, a P/E ratio of 10.72 and a beta of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.08 billion. Enterprise Products Partners had a net margin of 11.04% and a return on equity of 19.32%. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.51 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a $0.50 dividend. The ex-dividend date was Monday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.61%. Enterprise Products Partners’s payout ratio is 81.63%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial decreased their price target on shares of Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. TD Securities reduced their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Raymond James reduced their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 1st. StockNews.com assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Pickering Energy Partners assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, October 3rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $31.08.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.