Zacks: Analysts Anticipate Enterprise Products (EPD) Will Announce Quarterly Sales of $8.32 Billion

Brokerages expect Enterprise Products (NYSE:EPD) to announce sales of $8.32 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Enterprise Products’ earnings, with the highest sales estimate coming in at $8.85 billion and the lowest estimate coming in at $7.78 billion. Enterprise Products reported sales of $7.32 billion during the same quarter last year, which indicates a positive year over year growth rate of 13.7%. The business is scheduled to issue its next quarterly earnings results before the market opens on Monday, April 30th.

On average, analysts expect that Enterprise Products will report full year sales of $32.72 billion for the current fiscal year, with estimates ranging from $29.83 billion to $36.76 billion. For the next financial year, analysts expect that the business will report sales of $37.15 billion per share, with estimates ranging from $32.02 billion to $42.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Enterprise Products.

Enterprise Products (NYSE:EPD) last posted its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Enterprise Products had a net margin of 9.57% and a return on equity of 12.52%. The firm had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year.



EPD has been the topic of several recent analyst reports. Seaport Global Securities set a $27.00 target price on shares of Enterprise Products and gave the stock a “buy” rating in a research report on Monday, April 9th. Bank of America dropped their target price on shares of Enterprise Products from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Barclays set a $30.00 target price on shares of Enterprise Products and gave the stock a “buy” rating in a research report on Saturday, March 10th. UBS reissued a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of Enterprise Products in a research report on Friday, March 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Enterprise Products from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Enterprise Products currently has a consensus rating of “Buy” and a consensus target price of $31.00.

In related news, CEO Aj Teague purchased 24,665 shares of the stock in a transaction that occurred on Thursday, March 29th. The shares were bought at an average price of $24.54 per share, with a total value of $605,279.10. Following the acquisition, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at approximately $39,676,026.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 37.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Glenview Trust Co raised its holdings in Enterprise Products by 21.5% during the 4th quarter. Glenview Trust Co now owns 11,391 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 2,017 shares during the period. BSW Wealth Partners raised its holdings in Enterprise Products by 26.5% during the 4th quarter. BSW Wealth Partners now owns 9,917 shares of the oil and gas producer’s stock valued at $263,000 after acquiring an additional 2,080 shares during the period. FTB Advisors Inc. raised its holdings in Enterprise Products by 22.1% during the 4th quarter. FTB Advisors Inc. now owns 12,036 shares of the oil and gas producer’s stock valued at $319,000 after acquiring an additional 2,180 shares during the period. Huntington National Bank raised its holdings in Enterprise Products by 1.4% during the 4th quarter. Huntington National Bank now owns 157,422 shares of the oil and gas producer’s stock valued at $4,173,000 after acquiring an additional 2,200 shares during the period. Finally, Mycio Wealth Partners LLC raised its holdings in Enterprise Products by 21.3% during the 4th quarter. Mycio Wealth Partners LLC now owns 12,703 shares of the oil and gas producer’s stock valued at $337,000 after acquiring an additional 2,230 shares during the period. 36.36% of the stock is currently owned by institutional investors.

Enterprise Products stock opened at $25.76 on Friday. Enterprise Products has a 52 week low of $23.10 and a 52 week high of $29.51. The company has a current ratio of 0.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.95. The company has a market cap of $55,734.64, a price-to-earnings ratio of 19.52, a PEG ratio of 4.14 and a beta of 0.84.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Investors of record on Monday, April 30th will be issued a $0.4275 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend is Friday, April 27th. This is a boost from Enterprise Products’s previous quarterly dividend of $0.43. Enterprise Products’s payout ratio is 128.79%.

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Enterprise Products 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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Earnings History and Estimates for Enterprise Products (NYSE:EPD)

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