Analysts Expect Enterprise Products Partners L.P. (NYSE:EPD) Will Announce Earnings of $0.52 Per Share

Brokerages expect Enterprise Products Partners L.P. (NYSE:EPD) to announce earnings per share (EPS) of $0.52 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Enterprise Products Partners’ earnings, with estimates ranging from $0.50 to $0.56. Enterprise Products Partners posted earnings of $0.51 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Enterprise Products Partners will report full year earnings of $2.16 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.25. For the next fiscal year, analysts anticipate that the company will report earnings of $2.22 per share, with EPS estimates ranging from $2.07 to $2.42. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Enterprise Products Partners.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The company had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.57 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year.

EPD has been the topic of a number of recent research reports. Johnson Rice initiated coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.69.

Shares of Enterprise Products Partners stock traded up $0.25 during trading hours on Thursday, reaching $29.20. 1,573,097 shares of the company were exchanged, compared to its average volume of 3,984,963. Enterprise Products Partners has a 1 year low of $23.33 and a 1 year high of $30.86. The stock’s fifty day moving average is $29.51 and its 200 day moving average is $28.84. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The firm has a market cap of $63.31 billion, a PE ratio of 15.05, a PEG ratio of 3.28 and a beta of 0.88.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.03%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 90.72%.

In other Enterprise Products Partners news, Director Murray E. Brasseux bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at approximately $536,550. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.50% of the company’s stock.

A number of large investors have recently bought and sold shares of EPD. Mcmillion Capital Management Inc. purchased a new position in Enterprise Products Partners in the second quarter valued at $29,000. Centersquare Investment Management LLC purchased a new position in Enterprise Products Partners in the second quarter valued at $34,000. TRUE Private Wealth Advisors purchased a new position in Enterprise Products Partners in the second quarter valued at $41,000. Knuff & Co LLC purchased a new position in Enterprise Products Partners in the first quarter valued at $42,000. Finally, Tompkins Financial Corp increased its holdings in Enterprise Products Partners by 163.8% in the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 950 shares during the last quarter. 36.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Producer Price Index (PPI)

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

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