Enterprise Products Partners (NYSE:EPD) Announces Earnings Results

Enterprise Products Partners (NYSE:EPD) issued its earnings results on Monday. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.01), FiscalAI reports. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.30 on Tuesday. The company has a market capitalization of $82.80 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.45 and a beta of 0.55. The business has a 50 day moving average of $37.37 and a 200 day moving average of $34.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. Enterprise Products Partners has a 1-year low of $29.66 and a 1-year high of $39.74.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be given a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.7%. Enterprise Products Partners’s payout ratio is presently 82.71%.

Insider Buying and Selling

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its stake in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after purchasing an additional 1,313,976 shares during the last quarter. Barclays PLC grew its stake in shares of Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after buying an additional 1,069,304 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Enterprise Products Partners by 5,361.5% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 1,019,056 shares of the oil and gas producer’s stock worth $32,671,000 after buying an additional 1,000,397 shares during the period. Morgan Stanley lifted its stake in shares of Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after acquiring an additional 883,983 shares during the last quarter. Finally, Berkley W R Corp boosted its holdings in Enterprise Products Partners by 13.8% during the 4th quarter. Berkley W R Corp now owns 6,825,000 shares of the oil and gas producer’s stock valued at $218,810,000 after acquiring an additional 825,000 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Raymond James Financial cut Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 5th. Jefferies Financial Group increased their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Truist Financial initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $36.00 price target for the company. TD Cowen restated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Citigroup reaffirmed a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $38.27.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.