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

Enterprise Products Partners (NYSE:EPDGet Free Report) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $0.65 EPS 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 analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.24 on Thursday. The stock has a fifty day simple moving average of $29.24 and a two-hundred day simple moving average of $28.95. Enterprise Products Partners has a 1-year low of $25.61 and a 1-year high of $30.05. The firm has a market cap of $63.46 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Analysts Set New Price Targets

Several analysts have recently commented on EPD shares. 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 price objective for the company. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.73.

Check Out Our Latest Report on Enterprise Products Partners

About Enterprise Products Partners

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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.

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Earnings History for Enterprise Products Partners (NYSE:EPD)

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