Enterprise Products Partners (NYSE:EPD) Releases Earnings Results, Beats Estimates By $0.01 EPS

Enterprise Products Partners (NYSE:EPDGet Rating) released its quarterly earnings data on Wednesday. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01, RTT News reports. The company had revenue of $16.06 billion for the quarter, compared to the consensus estimate of $11.96 billion. Enterprise Products Partners had a return on equity of 19.08% and a net margin of 9.54%. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS.

Enterprise Products Partners Stock Down 0.1 %

EPD stock traded down $0.02 during midday trading on Friday, hitting $25.70. 3,314,632 shares of the company’s stock were exchanged, compared to its average volume of 5,973,893. The stock has a market capitalization of $56.04 billion, a price-to-earnings ratio of 11.58 and a beta of 1.16. The firm has a 50 day moving average price of $25.65 and a 200-day moving average price of $25.43. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 1.01. Enterprise Products Partners has a 12-month low of $20.42 and a 12-month high of $28.65.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, July 28th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 7.39%. Enterprise Products Partners’s payout ratio is currently 85.59%.

Insider Transactions at Enterprise Products Partners

In other news, Director Carin Marcy Barth bought 19,050 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was bought at an average price of $23.64 per share, for a total transaction of $450,342.00. Following the transaction, the director now owns 19,050 shares in the company, valued at $450,342. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Carin Marcy Barth acquired 19,050 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average price of $23.64 per share, for a total transaction of $450,342.00. Following the transaction, the director now directly owns 19,050 shares of the company’s stock, valued at approximately $450,342. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Rutherford acquired 6,500 shares of Enterprise Products Partners stock in a transaction that occurred on Thursday, August 4th. The shares were bought at an average price of $25.78 per share, with a total value of $167,570.00. Following the transaction, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC bought a new stake in Enterprise Products Partners during the 1st quarter valued at $247,000. The Manufacturers Life Insurance Company boosted its stake in Enterprise Products Partners by 11.2% during the first quarter. The Manufacturers Life Insurance Company now owns 40,367 shares of the oil and gas producer’s stock valued at $1,042,000 after buying an additional 4,079 shares in the last quarter. Strategic Wealth Partners Ltd. grew its holdings in Enterprise Products Partners by 5.4% during the first quarter. Strategic Wealth Partners Ltd. now owns 11,031 shares of the oil and gas producer’s stock worth $285,000 after acquiring an additional 563 shares during the period. Gabelli Funds LLC raised its position in Enterprise Products Partners by 1.7% in the first quarter. Gabelli Funds LLC now owns 379,908 shares of the oil and gas producer’s stock worth $9,805,000 after acquiring an additional 6,208 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Enterprise Products Partners by 16.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 42,290 shares of the oil and gas producer’s stock valued at $1,092,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 27.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EPD. Truist Financial raised their price objective on Enterprise Products Partners from $27.00 to $30.00 in a report on Tuesday, May 3rd. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, June 1st. Raymond James raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a report on Thursday. Morgan Stanley raised their target price on Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, April 26th. Finally, TD Securities raised their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Enterprise Products Partners Company Profile

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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.

Further Reading

Earnings History for Enterprise Products Partners (NYSE:EPD)

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