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

Enterprise Products Partners (NYSE:EPD) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01), Briefing.com reports. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share.

Enterprise Products Partners Trading Up 0.9 %

Enterprise Products Partners stock traded up $0.25 during mid-day trading on Wednesday, hitting $29.35. The company’s stock had a trading volume of 2,415,738 shares, compared to its average volume of 4,276,199. The stock has a market cap of $63.70 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The business has a 50 day moving average price of $29.24 and a 200-day moving average price of $28.94. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.16%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EPD. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $33.73.

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.