Enterprise Products Partners (NYSE:EPD) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Enterprise Products Partners (NYSE:EPD - Get Free Report) posted its earnings results on Tuesday. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05), Zacks reports. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Enterprise Products Partners's quarterly revenue was up 4.5% compared to the same quarter last year.

Enterprise Products Partners Stock Down 1.3 %

EPD traded down $0.40 during trading on Tuesday, reaching $30.98. The stock had a trading volume of 4,538,872 shares, compared to its average volume of 4,368,209. The stock's 50 day moving average is $32.31 and its two-hundred day moving average is $31.98. The company has a market capitalization of $67.08 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.91%. Enterprise Products Partners's dividend payout ratio (DPR) is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A hedge fund recently raised its stake in Enterprise Products Partners stock. Brighton Jones LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,620 shares of the oil and gas producer's stock after acquiring an additional 5,425 shares during the quarter. Brighton Jones LLC's holdings in Enterprise Products Partners were worth $1,023,000 at the end of the most recent quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

About Enterprise Products Partners

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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