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

Enterprise Products Partners L.P. (NYSE:EPDFree Report) – 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.

View Our Latest Stock Report on EPD

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:EPDGet Free Report) 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

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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. It operates in 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 Partners (NYSE:EPD)

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