Q3 2023 EPS Estimates for Enterprise Products Partners L.P. Lifted by Analyst (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) – US Capital Advisors boosted their Q3 2023 EPS estimates for shares of Enterprise Products Partners in a research report issued on Friday, May 19th. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will post earnings per share of $0.65 for the quarter, up from their previous estimate of $0.64. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.59 per share. US Capital Advisors also issued estimates for Enterprise Products Partners’ FY2023 earnings at $2.56 EPS, Q1 2024 earnings at $0.61 EPS, Q2 2024 earnings at $0.63 EPS, FY2024 earnings at $2.52 EPS and FY2025 earnings at $2.52 EPS.

A number of other brokerages have also weighed in on EPD. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 in a report on Tuesday, April 25th. TD Securities raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 target price on the stock. Barclays lifted their price objective on shares of Enterprise Products Partners from $29.00 to $30.00 in a research report on Tuesday, April 18th. Finally, StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Thursday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Enterprise Products Partners Trading Up 0.5 %

Shares of EPD opened at $26.20 on Monday. Enterprise Products Partners has a 1-year low of $22.90 and a 1-year high of $28.65. The company has a 50-day moving average of $25.99 and a 200 day moving average of $25.45. The firm has a market capitalization of $56.97 billion, a price-to-earnings ratio of 10.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.93 and a quick ratio of 0.72.

Enterprise Products Partners (NYSE:EPD – Get Rating) last released its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $12.44 billion during the quarter, compared to analyst estimates of $13.75 billion. Enterprise Products Partners had a net margin of 9.69% and a return on equity of 20.49%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently made changes to their positions in the company. MONECO Advisors LLC increased its holdings in Enterprise Products Partners by 9.4% in the 4th quarter. MONECO Advisors LLC now owns 17,745 shares of the oil and gas producer’s stock worth $428,000 after acquiring an additional 1,518 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Enterprise Products Partners by 7.3% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 66,768 shares of the oil and gas producer’s stock worth $1,610,000 after buying an additional 4,525 shares in the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Enterprise Products Partners by 0.7% during the fourth quarter. Capital Advisors Inc. OK now owns 54,986 shares of the oil and gas producer’s stock worth $1,326,000 after buying an additional 403 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Enterprise Products Partners by 109.3% during the third quarter. EP Wealth Advisors LLC now owns 17,920 shares of the oil and gas producer’s stock worth $426,000 after buying an additional 9,360 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Enterprise Products Partners by 0.3% during the third quarter. M&T Bank Corp now owns 644,556 shares of the oil and gas producer’s stock worth $15,328,000 after buying an additional 1,746 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague bought 11,950 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $300,542.50. Following the purchase, the chief executive officer now directly owns 2,491,895 shares in the company, valued at approximately $62,671,159.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 28th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 7.48%. The ex-dividend date of this dividend was Thursday, April 27th. Enterprise Products Partners’s payout ratio is 77.17%.

Enterprise Products Partners Company Profile

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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.