Enterprise Products Partners (NYSE:EPD) Releases Quarterly Earnings Results

Enterprise Products Partners (NYSE:EPD) released its earnings results on Monday. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05, FiscalAI reports. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The company had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.10 on Tuesday. The company has a market cap of $71.60 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The stock’s fifty day moving average price is $32.42 and its 200-day moving average price is $31.77. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $34.53.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 83.02%.

Enterprise Products Partners announced that its Board of Directors has initiated a stock buyback program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EPD. Citigroup reiterated a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Scotiabank restated a “sector perform” rating on shares of Enterprise Products Partners in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. Finally, Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.77.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the transaction, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 32.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EPD. Schnieders Capital Management LLC. lifted its holdings in Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Brighton Jones LLC raised its position in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Kelleher Financial Advisors purchased a new position in shares of Enterprise Products Partners in the third quarter worth $330,000. Nicolet Advisory Services LLC lifted its holdings in shares of Enterprise Products Partners by 9.5% in the third quarter. Nicolet Advisory Services LLC now owns 14,620 shares of the oil and gas producer’s stock worth $464,000 after buying an additional 1,267 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its position in shares of Enterprise Products Partners by 11.4% during the third quarter. Orion Porfolio Solutions LLC now owns 15,598 shares of the oil and gas producer’s stock worth $488,000 after acquiring an additional 1,599 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.