Enterprise Products Partners L.P. (NYSE:EPD) – Equities research analysts at Jefferies Financial Group issued their Q1 2020 earnings per share estimates for shares of Enterprise Products Partners in a research note issued on Monday, April 8th, according to Zacks Investment Research. Jefferies Financial Group analyst C. Sighinolfi anticipates that the oil and gas producer will post earnings of $0.55 per share for the quarter. Jefferies Financial Group also issued estimates for Enterprise Products Partners’ Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.56 EPS and Q4 2020 earnings at $0.58 EPS.
Several other equities research analysts have also recently commented on EPD. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, February 13th. Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $32.00 in a research note on Tuesday, April 2nd. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Evercore ISI started coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.27.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Enterprise Products Partners had a return on equity of 18.13% and a net margin of 11.42%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.4375 per share. The ex-dividend date is Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a yield of 6.09%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is presently 90.21%.
Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its holdings in shares of Enterprise Products Partners by 69.8% during the third quarter. Alliancebernstein L.P. now owns 16,415 shares of the oil and gas producer’s stock worth $472,000 after buying an additional 6,750 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Enterprise Products Partners by 7.2% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock worth $1,214,143,000 after buying an additional 2,841,648 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 564,583 shares of the oil and gas producer’s stock worth $16,221,000 after buying an additional 8,265 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Enterprise Products Partners by 192.6% during the third quarter. Tower Research Capital LLC TRC now owns 10,386 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 6,836 shares during the last quarter. Finally, GAM Holding AG acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $482,000. 36.78% of the stock is owned by hedge funds and other institutional investors.
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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