US Capital Advisors Brokers Increase Earnings Estimates for Enterprise Products Partners L.P. (NYSE:EPD)
Enterprise Products Partners LP (NYSE:EPD – Get Rating) – Analysts at US Capital Advisors have upgraded their earnings estimates for Enterprise Products Partners for the first quarter of 2023 in a research note issued to investors on Monday, January 30. US Capital Advisors analyst J. Carreker now forecasts the oil and gas producer to report earnings per share of $0.59 for the quarter, up from a previous estimate of $0.57. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.47 per share. US Capital Advisors also released estimates for Enterprise Products Partners’ second-quarter 2023 earnings of $0.62 per share and fiscal 2023 earnings of $2.44 per share.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The oil and gas producer reported earnings per share of $0.63 for the quarter, beating analyst consensus estimates of $0.61 by $0.02. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 9.12%. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $13.85 billion.
Several other research analysts have also recently issued reports on EPD. Tudor Pickering lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a price target of $29.00 for the company. in a research paper on Tuesday, October 18. StockNews.com launched coverage of Enterprise Product Partners in a report on Wednesday, October 12. They give the stock a “buy” rating. Citigroup assumed coverage of enterprise product partners in a research report on Thursday, December 8th. They provided a buy rating and a price target of $31.00 on the stock. Tudor, Pickering, Holt & Co. downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a price target of $29.00 for the company. in a research note on Tuesday, October 18. Finally, Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating in a report Monday, January 9th and set a price target of $27.00 for the stock. Three equities research analysts have rated the stock with a hold rating, seven with a buy rating and one with a strong buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.50. Trade in corporate products up 0.3%
NYSE EPD shares opened at $25.68 on Wednesday. Enterprise Products Partners has a 12-month low of $22.75 and a 12-month high of $28.65. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt to equity ratio of 0.97. The stock has a 50-day simple moving average of $24.75 and a 200-day simple moving average of $25.30. The stock has a market cap of $55.87 billion, a P/E of 11.07 and a beta of 1.11.
Enterprise Products Partners raises dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31 will receive a dividend of $0.49. That equates to a dividend of $1.96 on an annualized basis and a dividend yield of 7.63%. This is an increase from Enterprise Products Partners’ prior quarterly dividend of $0.48. The ex-dividend date is Monday January 30th. Enterprise Products Partners’ payout ratio is currently 84.48%.
Insider Transactions with Enterprise Product Partners
In other news, CEO Aj Teague bought 21,150 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were purchased at an average price of $23.60 per share for a total transaction of $499,140.00. Upon completion of the acquisition, the Chief Executive Officer now owns 2,335,225 shares of the Company, valued at $55,111,310. The transaction was disclosed in a legal filing with the SEC, which can be accessed at this link. Also on Tuesday, December 20, CEO Aj Teague acquired 21,150 shares of the company’s shares in a transaction. The stock was acquired at an average price of $23.60 per share for a total transaction of $499,140.00. Following the purchase, the Chief Executive Officer now directly owns 2,335,225 shares of the Company, valued at approximately $55,111,310. The transaction was disclosed in a filing with the SEC, which can be accessed at this link. In addition, Director John R. Rutherford purchased 10,000 shares of the stock in a transaction that took place on Wednesday, November 23. The shares were acquired at an average price of $24.88 per share for a total transaction of $248,800.00. Upon completion of the acquisition, the Director now owns 123,941 shares of the Company, valued at approximately $3,083,652.08. The disclosure for this purchase can be found here. Over the past ninety days, insiders have bought 39,800 shares of the company’s stock, valued at $955,819. 32.60% of the shares are currently owned by company insiders.
Institutional investors rely on partners for corporate products
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & Co. acquired a new position at Enterprise Products Partners valued at approximately $31,000 during the first quarter. Mirae Asset Global Investments Co.Ltd. increased its stake in Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co.Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after acquiring an additional 169,059 shares last quarter. BlackRock Inc. increased its stake in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after buying another 1,114,690 shares last quarter. Cibc World Market Inc. increased its stake in Enterprise Products Partners by 3.2% in the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after buying another 2,804 shares last quarter. Finally, Sei Investments Co. increased its stake in Enterprise Products Partners stock by 76.5% during the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after buying another 385,008 shares last quarter. 26.54% of the shares are currently owned by hedge funds and other institutional investors.
Enterprise product partner information
Enterprise Products Partners LP acts as a holding company engaged in the production and trading of natural gas and petrochemicals. The Company operates through the following segments: NGL Pipelines and Services, Crude Oil Pipelines and Services, Natural Gas Pipelines and Services, and Petrochemical and Refined Products Services.
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