Enterprise Products Partners L.P. (NYSE:EPD – Free Report) – Stock analysts at Zacks Research lifted their FY2023 earnings per share (EPS) estimates for shares of Enterprise Products Partners in a research note issued to investors on Friday, September 22nd. Zacks Research analyst A. Kanoria now anticipates that the oil and gas producer will earn $2.51 per share for the year, up from their prior estimate of $2.50. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.52 per share. Zacks Research also issued estimates for Enterprise Products Partners’ Q4 2023 earnings at $0.68 EPS, Q3 2024 earnings at $0.70 EPS, Q4 2024 earnings at $0.67 EPS, FY2024 earnings at $2.63 EPS and FY2025 earnings at $2.65 EPS.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $12.34 billion. Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The company’s revenue was down 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
A number of other research analysts also recently issued reports on the company. Mizuho raised their price target on Enterprise Products Partners from $32.00 to $33.00 in a research note on Wednesday, July 19th. TD Securities dropped their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Morgan Stanley restated an “equal weight” rating and set a $33.00 price target on shares of Enterprise Products Partners in a research note on Thursday, July 20th. Finally, StockNews.com started coverage on Enterprise Products Partners in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $30.70.
Read Our Latest Stock Analysis on EPD
Enterprise Products Partners Trading Up 0.5 %
NYSE:EPD opened at $27.39 on Monday. The stock’s 50 day moving average price is $26.73 and its 200 day moving average price is $26.28. The company has a market capitalization of $59.48 billion, a PE ratio of 11.09 and a beta of 1.08. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 52-week low of $22.90 and a 52-week high of $27.77.
Institutional Trading of Enterprise Products Partners
Hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. acquired a new position in Enterprise Products Partners during the first quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Enterprise Products Partners by 2.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock worth $169,611,000 after purchasing an additional 169,059 shares during the last quarter. BlackRock Inc. raised its holdings in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. raised its holdings in Enterprise Products Partners by 3.2% during the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after purchasing an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Enterprise Products Partners by 76.5% in the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after acquiring an additional 385,008 shares during the last quarter. 26.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Enterprise Products Partners news, Director William C. Montgomery purchased 50,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the acquisition, the director now directly owns 114,758 shares of the company’s stock, valued at $3,052,562.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 32.60% of the company’s stock.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.50 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 7.30%. The ex-dividend date was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.97%.
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.
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