Enterprise Products Partners (NYSE:EPD) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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

Enterprise Products Partners Trading Up 1.0 %

Shares of NYSE:EPD traded up $0.28 on Wednesday, hitting $29.38. The company had a trading volume of 2,634,847 shares, compared to its average volume of 4,277,242. Enterprise Products Partners has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $29.24 and its two-hundred day simple moving average is $28.94. The firm has a market capitalization of $63.76 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.15%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EPD. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $33.73.

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.