Enterprise Products Partners (NYSE:EPD) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Enterprise Products Partners (NYSE:EPD) announced its quarterly earnings data on Tuesday. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05, RTT News reports. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. During the same period in the prior year, the company earned $0.72 earnings per share.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.22 on Tuesday. 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 1 year low of $26.12 and a 1 year high of $34.63. The firm’s 50-day simple moving average is $32.53 and its 200-day simple moving average is $30.54. The firm has a market cap of $72.00 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.44%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

EPD has been the subject of several research analyst reports. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.44.

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.