Enterprise Products Partners (NYSE:EPD) Releases Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Enterprise Products Partners reported quarterly earnings of $0.66 per share, missing analyst estimates by $0.01, with a net margin of 10.26% and a return on equity of 19.90%.
• The company has raised its quarterly dividend to $0.545 per share, reflecting a 6.91% yield and an annualized payout of $2.18.
• Several analysts have given Enterprise Products Partners favorable ratings, with a consensus price target set at $36.36, indicating the stock is viewed as a strong buy.

Enterprise Products Partners (NYSE:EPD - Get Free Report) released its quarterly earnings data on Monday. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01), Zacks reports. Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the firm earned $0.64 EPS. The business's revenue for the quarter was down 15.7% compared to the same quarter last year.

Enterprise Products Partners Stock Up 0.0%

NYSE:EPD traded up $0.01 on Thursday, hitting $30.93. 2,996,201 shares of the company's stock traded hands, compared to its average volume of 4,768,139. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a 50-day moving average price of $31.40 and a 200-day moving average price of $32.07. The company has a market cap of $67.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.05%. The ex-dividend date is Thursday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 80.15%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Scotiabank boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price objective on the stock. Citigroup cut their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.25.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Institutional Investors Weigh In On Enterprise Products Partners

A hedge fund recently raised its stake in Enterprise Products Partners stock. Brighton Jones LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period. Institutional investors own 26.07% of the company's stock.

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.