Enterprise Products Partners L.P. (EPD) Forecasted to Post Q3 2017 Earnings of $0.31 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) – Research analysts at Jefferies Group cut their Q3 2017 earnings estimates for shares of Enterprise Products Partners L.P. in a note issued to investors on Monday. Jefferies Group analyst C. Sighinolfi now anticipates that the oil and gas producer will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.36. Jefferies Group currently has a “Buy” rating and a $30.00 target price on the stock. Jefferies Group also issued estimates for Enterprise Products Partners L.P.’s FY2017 earnings at $1.33 EPS and FY2018 earnings at $1.52 EPS.

Several other research firms also recently weighed in on EPD. BidaskClub upgraded Enterprise Products Partners L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. BMO Capital Markets reiterated a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research report on Wednesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research report on Friday, July 14th. Scotiabank set a $33.00 target price on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Barclays PLC reiterated an “overweight” rating and set a $31.00 target price (down from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $30.99.

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Enterprise Products Partners L.P. (EPD) opened at 26.13 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The stock’s 50 day moving average price is $26.14 and its 200-day moving average price is $26.74. The stock has a market cap of $56.13 billion, a PE ratio of 20.56 and a beta of 0.91.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in the company. Beacon Financial Group lifted its position in shares of Enterprise Products Partners L.P. by 11.2% in the third quarter. Beacon Financial Group now owns 62,942 shares of the oil and gas producer’s stock valued at $1,641,000 after acquiring an additional 6,363 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Enterprise Products Partners L.P. by 42.9% in the second quarter. Bogart Wealth LLC now owns 60,112 shares of the oil and gas producer’s stock valued at $1,628,000 after acquiring an additional 18,034 shares in the last quarter. Gs Investments Inc. purchased a new position in shares of Enterprise Products Partners L.P. in the second quarter valued at about $217,000. Brookfield Asset Management Inc. lifted its position in shares of Enterprise Products Partners L.P. by 15.8% in the second quarter. Brookfield Asset Management Inc. now owns 4,848,736 shares of the oil and gas producer’s stock valued at $131,304,000 after acquiring an additional 661,175 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Enterprise Products Partners L.P. in the second quarter valued at about $168,000. Institutional investors and hedge funds own 37.56% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 6.47%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 30th. Enterprise Products Partners L.P.’s payout ratio is presently 132.28%.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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