Enterprise Products Partners L.P. (NYSE:EPD) Forecasted to Earn Q3 2020 Earnings of $0.42 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) – Research analysts at Jefferies Financial Group decreased their Q3 2020 earnings per share (EPS) estimates for shares of Enterprise Products Partners in a research report issued on Tuesday, July 21st. Jefferies Financial Group analyst C. Sighinolfi now forecasts that the oil and gas producer will earn $0.42 per share for the quarter, down from their prior forecast of $0.44. Jefferies Financial Group also issued estimates for Enterprise Products Partners’ Q4 2020 earnings at $0.45 EPS, Q1 2021 earnings at $0.44 EPS, Q2 2021 earnings at $0.46 EPS, Q3 2021 earnings at $0.47 EPS, Q4 2021 earnings at $0.47 EPS, FY2021 earnings at $1.91 EPS, FY2022 earnings at $1.93 EPS, FY2023 earnings at $1.97 EPS and FY2024 earnings at $2.04 EPS.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Enterprise Products Partners had a return on equity of 18.93% and a net margin of 14.75%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Co upped their price target on Enterprise Products Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho restated a “buy” rating and issued a $24.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 30th. Cfra lowered their price target on Enterprise Products Partners from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. TheStreet cut Enterprise Products Partners from a “b-” rating to a “c” rating in a report on Thursday, April 9th. Finally, Piper Sandler upgraded Enterprise Products Partners from a “neutral” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Wednesday, July 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $26.31.

EPD opened at $18.14 on Thursday. The stock has a market cap of $39.55 billion, a P/E ratio of 8.56 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.12 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $18.64 and its 200 day simple moving average is $20.26. Enterprise Products Partners has a 1-year low of $10.27 and a 1-year high of $30.49.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend is Thursday, July 30th. Enterprise Products Partners’s dividend payout ratio is presently 82.79%.

In other Enterprise Products Partners news, COO Graham W. Bacon purchased 10,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, June 17th. The shares were bought at an average price of $19.70 per share, with a total value of $197,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 37.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Resource Management LLC raised its position in shares of Enterprise Products Partners by 4.0% in the 2nd quarter. Resource Management LLC now owns 226,332 shares of the oil and gas producer’s stock worth $4,112,000 after buying an additional 8,682 shares during the period. JNBA Financial Advisors raised its position in shares of Enterprise Products Partners by 48.1% in the 2nd quarter. JNBA Financial Advisors now owns 2,179 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 708 shares during the period. Rothschild Investment Corp IL raised its position in shares of Enterprise Products Partners by 17.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 89,300 shares of the oil and gas producer’s stock worth $1,623,000 after buying an additional 13,072 shares during the period. Cornell Pochily Investment Advisors Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $200,000. Finally, Allworth Financial LP raised its position in shares of Enterprise Products Partners by 315.1% in the 2nd quarter. Allworth Financial LP now owns 8,434 shares of the oil and gas producer’s stock worth $153,000 after buying an additional 6,402 shares during the period. 34.78% of the stock is currently owned by institutional investors.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Earnings History and Estimates for Enterprise Products Partners (NYSE:EPD)

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