$0.50 EPS Expected for Enterprise Products Partners L.P. (EPD) This Quarter

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Equities research analysts expect Enterprise Products Partners L.P. (NYSE:EPD) to announce $0.50 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Enterprise Products Partners’ earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.47. Enterprise Products Partners posted earnings of $0.37 per share in the same quarter last year, which would suggest a positive year over year growth rate of 35.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that Enterprise Products Partners will report full-year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.87. For the next financial year, analysts forecast that the company will report earnings of $1.92 per share, with EPS estimates ranging from $1.84 to $2.07. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Enterprise Products Partners.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.28%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.72 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. Enterprise Products Partners’s revenue was up 39.2% compared to the same quarter last year.

EPD has been the subject of several recent analyst reports. Bank of America set a $35.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Thursday, November 1st. Raymond James upped their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 4th. Barclays set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, October 3rd. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.75.

EPD opened at $26.20 on Wednesday. Enterprise Products Partners has a twelve month low of $23.10 and a twelve month high of $30.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.49. The stock has a market cap of $56.34 billion, a P/E ratio of 15.07, a PEG ratio of 4.64 and a beta of 0.88.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st were issued a $0.4325 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.60%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.

In related news, CEO Aj Teague bought 15,005 shares of the company’s stock in a transaction dated Wednesday, November 14th. The stock was purchased at an average price of $26.32 per share, with a total value of $394,931.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James T. Hackett sold 25,000 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $26.94, for a total transaction of $673,500.00. Following the completion of the transaction, the director now directly owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The disclosure for this sale can be found here. 37.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $333,913,000. BlackRock Inc. raised its holdings in Enterprise Products Partners by 321.0% in the 2nd quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock valued at $376,005,000 after buying an additional 10,360,904 shares during the last quarter. Trust Asset Management LLC raised its holdings in Enterprise Products Partners by 2,608.2% in the 3rd quarter. Trust Asset Management LLC now owns 7,802,034 shares of the oil and gas producer’s stock valued at $103,000 after buying an additional 7,513,942 shares during the last quarter. Alps Advisors Inc. raised its holdings in Enterprise Products Partners by 13.2% in the 2nd quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock valued at $1,084,226,000 after buying an additional 4,777,192 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Enterprise Products Partners by 3,877.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,367,467 shares of the oil and gas producer’s stock valued at $125,478,000 after buying an additional 4,257,649 shares during the last quarter. 37.32% of the stock is owned by hedge funds and other institutional investors.

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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