US Capital Advisors Equities Analysts Boost Earnings Estimates for Enterprise Products Partners L.P. (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) – Research analysts at US Capital Advisors increased their Q2 2024 earnings per share estimates for shares of Enterprise Products Partners in a research note issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the oil and gas producer will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.59. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.63 per share. US Capital Advisors also issued estimates for Enterprise Products Partners’ Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.63 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.78 EPS and FY2026 earnings at $2.65 EPS.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the business earned $0.64 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year.

EPD has been the topic of a number of other research reports. Scotiabank raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Stifel Nicolaus raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Stock Performance

EPD opened at $27.75 on Wednesday. The firm has a market capitalization of $60.17 billion, a P/E ratio of 11.01 and a beta of 1.02. The stock’s 50 day moving average price is $28.63 and its two-hundred day moving average price is $27.35. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners has a 12-month low of $25.19 and a 12-month high of $29.99.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its position in shares of Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Enterprise Products Partners by 8.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $7,542,000. Sapient Capital LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $3,271,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $3,793,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.