Equities Analysts Offer Predictions for EPD FY2024 Earnings

Enterprise Products Partners L.P. (NYSE:EPD) – Research analysts at US Capital Advisors decreased their FY2024 earnings per share estimates for shares of Enterprise Products Partners in a note issued to investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will post earnings per share of $2.66 for the year, down from their prior estimate of $2.67. US Capital Advisors currently has a “Strong-Buy” rating on the stock. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.67 per share. US Capital Advisors also issued estimates for Enterprise Products Partners’ Q4 2024 earnings at $0.71 EPS and Q4 2025 earnings at $0.74 EPS.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.72 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.44.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.19 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The business has a 50 day moving average price of $32.55 and a 200-day moving average price of $30.59. The firm has a market cap of $71.94 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Hamlin Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after acquiring an additional 24,335 shares during the last quarter. Brookfield Corp ON boosted its position in shares of Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.45%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Enterprise Products Partners Company Profile

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.