Enterprise Products Partners (EPD) to Release Quarterly Earnings on Wednesday

Enterprise Products Partners (NYSE:EPDGet Rating) will issue its quarterly earnings data before the market opens on Wednesday, August 3rd. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Enterprise Products Partners (NYSE:EPDGet Rating) last announced its earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $10.47 billion. Enterprise Products Partners had a net margin of 10.28% and a return on equity of 18.08%. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts expect Enterprise Products Partners to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $26.73 on Monday. The firm has a 50-day moving average of $25.75 and a 200-day moving average of $25.38. The company has a market cap of $58.28 billion, a P/E ratio of 12.85 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67. Enterprise Products Partners has a one year low of $20.42 and a one year high of $28.65.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a $0.475 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.90 annualized dividend and a dividend yield of 7.11%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s dividend payout ratio is currently 91.35%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a report on Tuesday, May 3rd. Truist Financial raised their price objective on shares of Enterprise Products Partners from $27.00 to $30.00 in a report on Tuesday, May 3rd. Raymond James raised their price objective on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Monday, April 18th. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Finally, UBS Group raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.63.

Insiders Place Their Bets

In other news, Director Carin Marcy Barth acquired 19,050 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was bought at an average cost of $23.64 per share, for a total transaction of $450,342.00. Following the completion of the transaction, the director now owns 19,050 shares of the company’s stock, valued at $450,342. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.50% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of EPD. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after acquiring an additional 169,059 shares during the period. BlackRock Inc. raised its stake in Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after purchasing an additional 1,114,690 shares in the last quarter. Cibc World Market Inc. raised its stake in Enterprise Products Partners by 3.2% in the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after purchasing an additional 2,804 shares in the last quarter. Finally, Sei Investments Co. raised its stake in 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 valued at $22,931,000 after purchasing an additional 385,008 shares in the last quarter. 27.29% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

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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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Earnings History for Enterprise Products Partners (NYSE:EPD)

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