Enterprise Products Partners (NYSE:EPD) Announces Earnings Results

Enterprise Products Partners (NYSE:EPDGet Free Report) announced its quarterly earnings results on Tuesday. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01), Briefing.com reports. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.28 during trading on Wednesday, hitting $29.38. 2,634,847 shares of the company were exchanged, compared to its average volume of 4,277,242. The company has a market cap of $63.76 billion, a PE ratio of 11.20, a P/E/G ratio of 1.32 and a beta of 1.03. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a 50 day moving average of $29.24 and a 200 day moving average of $28.94.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.15%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has 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 data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.73.

Check Out Our Latest Report on Enterprise Products Partners

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. 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 for Enterprise Products Partners (NYSE:EPD)

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