US Capital Advisors Has Negative View of EPD FY2024 Earnings

Enterprise Products Partners L.P. (NYSE:EPD) – Stock analysts at US Capital Advisors decreased their FY2024 earnings estimates for shares of Enterprise Products Partners in a research report issued to clients and investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will post earnings of $2.66 per share for the year, down from their prior estimate of $2.67. US Capital Advisors 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.

EPD has been the subject of a number of other research reports. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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 note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.44.

Enterprise Products Partners Trading Down 0.5 %

Shares of EPD stock opened at $32.97 on Wednesday. Enterprise Products Partners has a 1 year low of $26.12 and a 1 year high of $34.63. The firm has a fifty day moving average price of $32.55 and a 200-day moving average price of $30.57. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $71.46 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (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 firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont raised its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its position in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares in the last quarter. Sandbox Financial Partners LLC raised its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares in the last quarter. Finally, Hardy Reed LLC raised its position in shares of Enterprise Products Partners by 2.2% during the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock valued at $461,000 after buying an additional 310 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Increases Dividend

The business also recently declared 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 represents a $2.14 annualized dividend and a yield of 6.49%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.