Q2 2024 EPS Estimates for Enterprise Products Partners L.P. (NYSE:EPD) Raised by Analyst

Enterprise Products Partners L.P. (NYSE:EPD) – Analysts at US Capital Advisors boosted their Q2 2024 EPS estimates for shares of Enterprise Products Partners in a research report issued to clients and investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.60. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.71 per share.

A number of other research firms also recently issued reports on EPD. Scotiabank increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Barclays upped their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.69.

Enterprise Products Partners Trading Down 0.9 %

NYSE EPD opened at $28.43 on Wednesday. Enterprise Products Partners has a 12 month low of $25.19 and a 12 month high of $29.99. The company has a 50-day moving average of $28.83 and a 200-day moving average of $27.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $61.74 billion, a P/E ratio of 11.15 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $28,000. Stephens Consulting LLC bought a new position in Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the first quarter worth $29,000. Finally, Rational Advisors LLC bought a new position in Enterprise Products Partners during the third quarter worth $43,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

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.