Enterprise Products Partners L.P. (NYSE:EPD – Free Report) – Stock analysts at Zacks Research raised their FY2023 earnings per share (EPS) estimates for shares of Enterprise Products Partners in a note issued to investors on Friday, September 22nd. Zacks Research analyst A. Kanoria now forecasts that the oil and gas producer will post earnings per share of $2.51 for the year, up from their prior forecast of $2.50. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.52 per share. Zacks Research also issued estimates for Enterprise Products Partners’ Q4 2023 earnings at $0.68 EPS, Q3 2024 earnings at $0.70 EPS, Q4 2024 earnings at $0.67 EPS, FY2024 earnings at $2.63 EPS and FY2025 earnings at $2.65 EPS.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $12.34 billion. Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The company’s revenue for the quarter was down 33.7% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS.
Check Out Our Latest Stock Analysis on EPD
Enterprise Products Partners Trading Up 0.5 %
Shares of NYSE EPD opened at $27.39 on Monday. The company has a market cap of $59.48 billion, a price-to-earnings ratio of 11.09 and a beta of 1.08. Enterprise Products Partners has a 12-month low of $22.90 and a 12-month high of $27.77. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.98. The stock’s 50 day simple moving average is $26.73 and its 200 day simple moving average is $26.28.
Institutional Investors Weigh In On Enterprise Products Partners
Several large investors have recently modified their holdings of EPD. Moneta Group Investment Advisors LLC boosted its position in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after buying an additional 132,237,142 shares during the period. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 9.9% in the fourth quarter. Alps Advisors Inc. now owns 27,987,437 shares of the oil and gas producer’s stock worth $675,057,000 after buying an additional 2,510,567 shares during the period. BlackRock Inc. boosted its position in shares of Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after buying an additional 1,114,690 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Enterprise Products Partners by 94.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 23,586,115 shares of the oil and gas producer’s stock worth $568,897,000 after buying an additional 11,442,697 shares during the period. Finally, Morgan Stanley boosted its position in shares of Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after buying an additional 3,102,695 shares during the period. 26.54% of the stock is owned by institutional investors.
Insider Transactions at Enterprise Products Partners
In related news, Director William C. Montgomery acquired 50,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the purchase, the director now directly owns 114,758 shares in the company, valued at approximately $3,052,562.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 7.30%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.97%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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