Zacks: Analysts Expect Enterprise Products Partners L.P. (NYSE:EPD) Will Post Earnings of $0.59 Per Share

Equities analysts expect that Enterprise Products Partners L.P. (NYSE:EPDGet Rating) will announce earnings per share (EPS) of $0.59 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Enterprise Products Partners’ earnings, with estimates ranging from $0.57 to $0.62. Enterprise Products Partners posted earnings of $0.51 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.7%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Enterprise Products Partners will report full year earnings of $2.35 per share for the current fiscal year, with EPS estimates ranging from $2.19 to $2.49. For the next year, analysts anticipate that the firm will post earnings of $2.49 per share, with EPS estimates ranging from $2.32 to $2.71. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Enterprise Products Partners.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Enterprise Products Partners had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same period last year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 42.1% on a year-over-year basis.

A number of analysts have commented on the stock. Citigroup lowered shares of Enterprise Products Partners from a “buy” rating to a “neutral” rating in a report on Monday, January 31st. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. Truist Financial raised their price target on shares of Enterprise Products Partners from $27.00 to $30.00 in a research note on Tuesday, May 3rd. TD Securities raised their price objective on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Finally, Mizuho boosted their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $29.00.

Enterprise Products Partners stock opened at $26.80 on Wednesday. The company has a market capitalization of $58.44 billion, a price-to-earnings ratio of 12.88 and a beta of 1.15. The company’s fifty day moving average price is $26.08 and its two-hundred day moving average price is $24.12. Enterprise Products Partners has a one year low of $20.42 and a one year high of $27.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Friday, April 29th were issued a $0.465 dividend. The ex-dividend date was Thursday, April 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 6.94%. Enterprise Products Partners’s payout ratio is currently 89.42%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC lifted its position in Enterprise Products Partners by 118.6% during the 3rd quarter. Wealthspire Advisors LLC now owns 50,555 shares of the oil and gas producer’s stock worth $1,094,000 after buying an additional 27,425 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Enterprise Products Partners by 30.9% during the third quarter. Cetera Advisors LLC now owns 367,394 shares of the oil and gas producer’s stock valued at $7,950,000 after acquiring an additional 86,796 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Enterprise Products Partners by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,195,317 shares of the oil and gas producer’s stock valued at $47,625,000 after acquiring an additional 7,073 shares during the last quarter. HighTower Trust Services LTA increased its position in shares of Enterprise Products Partners by 1.7% during the fourth quarter. HighTower Trust Services LTA now owns 545,483 shares of the oil and gas producer’s stock worth $11,979,000 after buying an additional 9,250 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Enterprise Products Partners by 56.7% during the fourth quarter. International Assets Investment Management LLC now owns 70,898 shares of the oil and gas producer’s stock worth $1,557,000 after buying an additional 25,663 shares during the period. Institutional investors and hedge funds own 27.29% of the company’s stock.

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.

See Also

Get a free copy of the Zacks research report on Enterprise Products Partners (EPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Enterprise Products Partners (NYSE:EPD)

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.