Equities analysts expect that Enterprise Products Partners L.P. (NYSE:EPD) will announce sales of $8.99 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Enterprise Products Partners' earnings, with estimates ranging from $8.54 billion to $9.44 billion. Enterprise Products Partners reported sales of $6.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 29.9%. The business is expected to announce its next earnings results on Wednesday, October 27th.
On average, analysts expect that Enterprise Products Partners will report full year sales of $36.69 billion for the current financial year, with estimates ranging from $35.89 billion to $37.91 billion. For the next year, analysts anticipate that the company will post sales of $36.02 billion, with estimates ranging from $31.50 billion to $39.62 billion. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that cover Enterprise Products Partners.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 28th. The oil and gas producer reported $0.50 earnings per share for the quarter, meeting the Zacks' consensus estimate of $0.50. Enterprise Products Partners had a net margin of 11.80% and a return on equity of 18.26%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same period last year, the business earned $0.47 EPS.
A number of equities research analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Tuesday, September 28th. They issued a "buy" rating on the stock. Raymond James increased their target price on shares of Enterprise Products Partners from $26.00 to $28.00 and gave the company a "strong-buy" rating in a research report on Wednesday, July 21st. Morgan Stanley dropped their target price on shares of Enterprise Products Partners from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, August 26th. Zacks Investment Research downgraded shares of Enterprise Products Partners from a "hold" rating to a "sell" rating and set a $23.00 target price on the stock. in a research report on Tuesday, September 28th. Finally, Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, June 24th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Buy" and a consensus target price of $26.80.
In other news, CEO Aj Teague bought 23,300 shares of the stock in a transaction dated Monday, September 20th. The shares were acquired at an average price of $21.41 per share, with a total value of $498,853.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford bought 10,000 shares of the stock in a transaction dated Thursday, August 26th. The stock was purchased at an average cost of $22.19 per share, for a total transaction of $221,900.00. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in EPD. Principal Financial Group Inc. lifted its stake in shares of Enterprise Products Partners by 3.6% in the first quarter. Principal Financial Group Inc. now owns 6,518,588 shares of the oil and gas producer's stock valued at $143,539,000 after purchasing an additional 224,131 shares during the period. Sei Investments Co. lifted its stake in shares of Enterprise Products Partners by 6.0% in the first quarter. Sei Investments Co. now owns 363,497 shares of the oil and gas producer's stock valued at $8,004,000 after purchasing an additional 20,688 shares during the period. Northern Trust Corp lifted its stake in shares of Enterprise Products Partners by 1.0% in the first quarter. Northern Trust Corp now owns 993,089 shares of the oil and gas producer's stock valued at $21,868,000 after purchasing an additional 9,798 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Enterprise Products Partners by 50.3% in the first quarter. Allianz Asset Management GmbH now owns 649,697 shares of the oil and gas producer's stock valued at $14,306,000 after purchasing an additional 217,330 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Enterprise Products Partners by 18.6% in the first quarter. Lido Advisors LLC now owns 22,624 shares of the oil and gas producer's stock valued at $498,000 after purchasing an additional 3,550 shares during the period. Hedge funds and other institutional investors own 28.80% of the company's stock.
Shares of EPD opened at $24.25 on Friday. Enterprise Products Partners has a twelve month low of $16.01 and a twelve month high of $25.69. The firm's fifty day simple moving average is $22.42 and its 200-day simple moving average is $23.19. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 13.94 and a beta of 1.40. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend is Thursday, October 28th. Enterprise Products Partners's payout ratio is currently 85.31%.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
Featured Article: What is a resistance level?
Get a free copy of the Zacks research report on Enterprise Products Partners (EPD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Enterprise Products Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enterprise Products Partners wasn't on the list.
While Enterprise Products Partners currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here