Enterprise Products Partners (NYSE:EPD) Announces Earnings Results

Enterprise Products Partners (NYSE:EPD) 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.

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.