Enterprise Products Partners (NYSE:EPD) Announces Earnings Results

Enterprise Products Partners (NYSE:EPD) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02), Briefing.com reports. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the company earned $0.57 EPS. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis.

Enterprise Products Partners Trading Down 0.3 %

EPD stock traded down $0.09 on Thursday, reaching $28.77. The company’s stock had a trading volume of 1,706,389 shares, compared to its average volume of 4,451,790. The firm has a market cap of $62.48 billion, a PE ratio of 11.25, a PEG ratio of 1.38 and a beta of 1.04. The business has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $28.37. Enterprise Products Partners has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Mizuho reiterated 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 boosted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average 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.