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

Enterprise Products Partners L.P. (NYSE:EPD) – Investment analysts at US Capital Advisors boosted their Q2 2024 earnings per share estimates for shares of Enterprise Products Partners in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the oil and gas producer will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.59. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.63 per share. US Capital Advisors also issued estimates for Enterprise Products Partners’ Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.63 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.78 EPS and FY2026 earnings at $2.65 EPS.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year.

A number of other research firms have also recently weighed in on EPD. Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $28.07 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a 50-day simple moving average of $28.62 and a two-hundred day simple moving average of $27.34. The firm has a market capitalization of $60.86 billion, a PE ratio of 11.14 and a beta of 1.02. Enterprise Products Partners has a 52-week low of $25.19 and a 52-week high of $29.99.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the stock. Accordant Advisory Group Inc bought a new position in Enterprise Products Partners in the first quarter worth approximately $26,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter worth $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at $29,000. Rational Advisors LLC bought a new stake in shares of Enterprise Products Partners in the third quarter valued at about $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners in the third quarter worth about $48,000. 26.07% of the stock is 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.