Q2 2024 EPS Estimates for Enterprise Products Partners L.P. (NYSE:EPD) Increased by US Capital Advisors

Enterprise Products Partners L.P. (NYSE:EPD) – US Capital Advisors lifted their Q2 2024 EPS estimates for shares of Enterprise Products Partners in a report released on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will earn $0.61 per share for the quarter, up from their previous forecast of $0.60. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.71 per share.

Several other equities analysts have also commented on EPD. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Truist Financial raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $32.69.

Enterprise Products Partners Trading Down 0.8 %

EPD stock opened at $28.21 on Wednesday. The firm has a fifty day moving average price of $28.83 and a 200 day moving average price of $27.50. Enterprise Products Partners has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm has a market cap of $61.26 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.30%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Accordant Advisory Group Inc purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth $29,000. Finally, Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at $43,000. Institutional investors 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.