Enterprise Products Partners (NYSE:EPD - Get Free Report) posted its earnings results on Tuesday. The oil and gas producer reported $0.64 earnings per share (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 analyst estimates of $14.14 billion. During the same period last year, the business earned $0.66 EPS. Enterprise Products Partners's revenue was up 4.5% compared to the same quarter last year.
Enterprise Products Partners Stock Performance
Enterprise Products Partners stock traded down $0.06 during midday trading on Thursday, hitting $29.84. 4,693,719 shares of the company's stock were exchanged, compared to its average volume of 4,368,859. The firm's 50 day simple moving average is $32.11 and its 200 day simple moving average is $31.96. Enterprise Products Partners has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $64.63 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.
Enterprise Products Partners Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.17%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.
Hedge Funds Weigh In On Enterprise Products Partners
An institutional investor recently raised its position in Enterprise Products Partners stock. Brighton Jones LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,620 shares of the oil and gas producer's stock after purchasing an additional 5,425 shares during the quarter. Brighton Jones LLC's holdings in Enterprise Products Partners were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 26.07% of the company's stock.
Wall Street Analysts Forecast Growth
EPD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.
Get Our Latest Analysis on EPD
About Enterprise Products Partners
(
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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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