Wall Street brokerages expect Enterprise Products Partners L.P. (NYSE:EPD) to announce $8.76 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Enterprise Products Partners’ earnings, with estimates ranging from $7.83 billion to $9.69 billion. Enterprise Products Partners posted sales of $8.47 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Enterprise Products Partners will report full-year sales of $35.74 billion for the current financial year, with estimates ranging from $32.13 billion to $38.77 billion. For the next year, analysts expect that the company will report sales of $37.25 billion, with estimates ranging from $34.26 billion to $40.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Enterprise Products Partners.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis.
EPD has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, February 13th. Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. Evercore ISI began coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the company a “buy” rating in a research report on Tuesday, January 29th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $33.27.
EPD traded down $0.19 during trading on Friday, hitting $28.64. The company’s stock had a trading volume of 17,568 shares, compared to its average volume of 4,178,240. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a one year low of $23.33 and a one year high of $30.05. The company has a market capitalization of $62.30 billion, a PE ratio of 14.76, a PEG ratio of 3.53 and a beta of 0.95.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 6.11%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.21%.
Several hedge funds have recently made changes to their positions in EPD. Energy Income Partners LLC grew its stake in Enterprise Products Partners by 14.2% during the fourth quarter. Energy Income Partners LLC now owns 20,868,803 shares of the oil and gas producer’s stock valued at $513,164,000 after acquiring an additional 2,596,527 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Enterprise Products Partners by 4.6% during the first quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after acquiring an additional 884,418 shares in the last quarter. Morgan Stanley grew its stake in Enterprise Products Partners by 6.8% during the first quarter. Morgan Stanley now owns 19,602,953 shares of the oil and gas producer’s stock valued at $570,445,000 after acquiring an additional 1,240,457 shares in the last quarter. BlackRock Inc. grew its stake in Enterprise Products Partners by 10.9% during the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after acquiring an additional 1,665,379 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Enterprise Products Partners by 5.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,165,898 shares of the oil and gas producer’s stock valued at $372,930,000 after acquiring an additional 728,719 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.
Enterprise Products Partners Company Profile
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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