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

Enterprise Products Partners (NYSE:EPD) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping 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 EPD 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. The stock has a market capitalization of $72.00 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.54 and a beta of 1.09. The company’s fifty day moving average is $32.53 and its two-hundred day moving average is $30.54. Enterprise Products Partners has a 1 year low of $26.12 and a 1 year high of $34.63.

Enterprise Products Partners Increases Dividend

The company also recently disclosed 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. 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%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 80.15%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EPD shares. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Truist Financial lifted 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, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.