Enterprise Products Partners (NYSE:EPD) released its quarterly earnings data on Wednesday. The oil and gas producer reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15, MarketWatch Earnings reports. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. Enterprise Products Partners’s revenue for the quarter was up 39.2% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS.
NYSE EPD traded down $0.30 on Friday, hitting $26.71. The stock had a trading volume of 97,568 shares, compared to its average volume of 5,271,802. Enterprise Products Partners has a 52-week low of $23.10 and a 52-week high of $30.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.56. The stock has a market capitalization of $57.27 billion, a PE ratio of 20.29, a P/E/G ratio of 5.02 and a beta of 0.91.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be paid a $0.4325 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 annualized dividend and a yield of 6.48%. Enterprise Products Partners’s dividend payout ratio is currently 131.06%.
Several research firms recently commented on EPD. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co raised their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America set a $35.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a report on Thursday. Barclays set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a report on Friday, October 12th. Finally, Credit Suisse Group began coverage on shares of Enterprise Products Partners in a report on Thursday, October 11th. They issued an “outperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.83.
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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