Enterprise Products Partners (NYSE:EPD) Issues Quarterly Earnings Results

Enterprise Products Partners (NYSE:EPD) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01), Briefing.com reports. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis.

Enterprise Products Partners Stock Up 0.5 %

Shares of NYSE:EPD opened at $29.24 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a 50-day moving average price of $29.24 and a 200 day moving average price of $28.95. The company has a market cap of $63.46 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Ratings Changes

EPD has been the topic of several analyst reports. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.