Enterprise Products Partners (NYSE:EPD) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Enterprise Products Partners (NYSE:EPDGet Rating) posted its earnings results on Monday. The oil and gas producer reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06, Briefing.com reports. The company had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $10.47 billion. Enterprise Products Partners had a net margin of 11.36% and a return on equity of 18.56%. Enterprise Products Partners’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share.

NYSE EPD traded up $0.66 during trading on Tuesday, reaching $26.27. 258,612 shares of the company’s stock traded hands, compared to its average volume of 5,535,909. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 0.91. The firm has a market cap of $57.17 billion, a price-to-earnings ratio of 12.56 and a beta of 1.15. The company’s 50 day simple moving average is $25.51 and its two-hundred day simple moving average is $23.78. Enterprise Products Partners has a 12-month low of $20.42 and a 12-month high of $27.65.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Friday, April 29th will be given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, April 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is 88.57%.

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Friday, February 18th. The shares were purchased at an average price of $23.76 per share, with a total value of $356,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Rutherford acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The stock was purchased at an average cost of $23.72 per share, for a total transaction of $237,200.00. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth approximately $125,000. Paradigm Financial Partners LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth approximately $365,000. Forum Financial Management LP acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $458,000. Sequoia Financial Advisors LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $467,000. Finally, Autumn Glory Partners LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $682,000. Institutional investors own 27.29% of the company’s stock.

EPD has been the subject of several research reports. Truist Financial increased their price objective on shares of Enterprise Products Partners from $27.00 to $30.00 in a research report on Tuesday. Raymond James increased their price objective on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the company a “strong-buy” rating in a research report on Monday, April 18th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 26th. Mizuho increased their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a research report on Tuesday. Finally, StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, March 31st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $28.38.

Enterprise Products Partners Company Profile (Get Rating)

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.

Further Reading

Earnings History for Enterprise Products Partners (NYSE:EPD)

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