Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 20,270,000 shares, a decrease of 11.6% from the November 30th total of 22,930,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,820,000 shares, the days-to-cover ratio is currently 3.5 days.
Enterprise Products Partners Stock Down 0.4 %
Shares of Enterprise Products Partners stock opened at $24.12 on Monday. The company has a fifty day moving average price of $24.51 and a 200 day moving average price of $25.12. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. Enterprise Products Partners has a twelve month low of $21.61 and a twelve month high of $28.65. The stock has a market cap of $52.47 billion, a price-to-earnings ratio of 10.40 and a beta of 1.12.
Enterprise Products Partners (NYSE:EPD – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Enterprise Products Partners had a net margin of 9.12% and a return on equity of 19.59%. Equities research analysts forecast that Enterprise Products Partners will post 2.47 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $1.90 dividend on an annualized basis and a yield of 7.88%. Enterprise Products Partners’s payout ratio is currently 81.90%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on EPD. Tudor, Pickering, Holt & Co. downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a report on Tuesday, October 18th. StockNews.com started coverage on Enterprise Products Partners in a report on Wednesday, October 12th. They set a “buy” rating for the company. Citigroup started coverage on Enterprise Products Partners in a report on Thursday, December 8th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Tudor Pickering downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Tuesday, October 18th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.89.
Insider Activity at Enterprise Products Partners
In related news, CEO Aj Teague bought 3,650 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, December 27th. The shares were purchased at an average price of $24.09 per share, with a total value of $87,928.50. Following the purchase, the chief executive officer now owns 2,337,775 shares in the company, valued at $56,316,999.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enterprise Products Partners news, Director Carin Marcy Barth purchased 5,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was bought at an average cost of $23.99 per share, for a total transaction of $119,950.00. Following the acquisition, the director now owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aj Teague purchased 3,650 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was acquired at an average price of $24.09 per share, with a total value of $87,928.50. Following the completion of the acquisition, the chief executive officer now directly owns 2,337,775 shares in the company, valued at approximately $56,316,999.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 39,800 shares of company stock valued at $955,819. 32.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Enterprise Products Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zullo Investment Group Inc. lifted its position in shares of Enterprise Products Partners by 133.1% during the first quarter. Zullo Investment Group Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 571 shares during the last quarter. Sargent Bickham Lagudis LLC bought a new position in shares of Enterprise Products Partners during the second quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Enterprise Products Partners during the first quarter worth about $26,000. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners during the first quarter worth about $31,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Enterprise Products Partners during the third quarter worth about $32,000. 26.54% of the stock is owned by hedge funds and other institutional investors.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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