Enterprise Products Partners (NYSE:EPD) Releases Earnings Results, Beats Estimates By $0.02 EPS

Enterprise Products Partners (NYSE:EPD) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02, Briefing.com reports. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter last year, the business posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 18.6% compared to the same quarter last year.

Enterprise Products Partners Trading Down 1.2 %

NYSE EPD opened at $27.75 on Thursday. The stock’s 50 day moving average price is $28.63 and its two-hundred day moving average price is $27.35. 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 market capitalization of $60.17 billion, a price-to-earnings ratio of 10.88 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 company 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. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.42%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Wells Fargo & Company upped their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Truist Financial boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Scotiabank upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.75.

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.