Enterprise Products Partners (NYSE:EPD) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Enterprise Products Partners (NYSE:EPD) posted its earnings results on Tuesday. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02), Briefing.com reports. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue was up 26.6% compared to the same quarter last year.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded down $0.69 on Wednesday, reaching $28.87. The stock had a trading volume of 7,097,885 shares, compared to its average volume of 4,470,582. Enterprise Products Partners has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a market cap of $62.69 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $28.91 and its two-hundred day moving average is $28.37.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.27%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.92.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.