Q2 2024 EPS Estimates for Enterprise Products Partners L.P. (NYSE:EPD) Boosted by Analyst

Enterprise Products Partners L.P. (NYSE:EPD) – Analysts at US Capital Advisors increased their Q2 2024 earnings per share estimates for Enterprise Products Partners in a research note issued to investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the oil and gas producer will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.60. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.71 per share.

A number of other brokerages also recently commented on EPD. JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Truist Financial upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Scotiabank upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.69.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $28.68 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market cap of $62.28 billion, a PE ratio of 11.25 and a beta of 1.02. The business has a 50 day moving average of $28.84 and a 200 day moving average of $27.49. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.18%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. lifted its holdings in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares during the period. American Century Companies Inc. lifted its holdings in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the period. Reaves W H & Co. Inc. lifted its holdings in Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after acquiring an additional 1,368,440 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Enterprise Products Partners by 2,436.1% in the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after acquiring an additional 1,125,117 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.