Equities analysts expect that Enterprise Products Partners L.P. (NYSE:EPD) will report sales of $6.51 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Enterprise Products Partners’ earnings, with estimates ranging from $5.76 billion to $7.26 billion. Enterprise Products Partners posted sales of $7.96 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 18.2%. The company is expected to announce its next earnings report on Monday, October 26th.
According to Zacks, analysts expect that Enterprise Products Partners will report full-year sales of $26.91 billion for the current fiscal year, with estimates ranging from $24.80 billion to $28.03 billion. For the next year, analysts expect that the business will report sales of $29.11 billion, with estimates ranging from $23.65 billion to $35.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Enterprise Products Partners.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $7.52 billion. Enterprise Products Partners had a return on equity of 18.06% and a net margin of 15.41%. The company’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share.
EPD has been the topic of a number of research analyst reports. Piper Sandler raised Enterprise Products Partners from a “neutral” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Wednesday, July 8th. Royal Bank of Canada reaffirmed a “buy” rating and set a $28.00 target price on shares of Enterprise Products Partners in a report on Thursday, August 6th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Citigroup lowered their target price on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Finally, SunTrust Banks lifted their target price on Enterprise Products Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $24.64.
In related news, Director Randa Duncan Williams purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average price of $1,000.00 per share, for a total transaction of $15,000,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aj Teague purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $17.03 per share, with a total value of $170,300.00. Following the transaction, the chief executive officer now directly owns 1,958,357 shares in the company, valued at $33,350,819.71. The disclosure for this purchase can be found here. Insiders purchased a total of 35,000 shares of company stock valued at $15,345,300 in the last quarter. 37.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell Capital Management Inc. boosted its position in Enterprise Products Partners by 79.4% during the 3rd quarter. Campbell Capital Management Inc. now owns 98,300 shares of the oil and gas producer’s stock worth $1,552,000 after acquiring an additional 43,500 shares during the period. Principal Financial Group Inc. boosted its position in Enterprise Products Partners by 2.1% during the 2nd quarter. Principal Financial Group Inc. now owns 5,858,297 shares of the oil and gas producer’s stock worth $106,445,000 after acquiring an additional 120,247 shares during the period. AdvisorNet Financial Inc boosted its position in Enterprise Products Partners by 9.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 9,987 shares of the oil and gas producer’s stock worth $181,000 after acquiring an additional 830 shares during the period. Strategic Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth about $2,531,000. Finally, FMR LLC boosted its position in Enterprise Products Partners by 8.4% during the 2nd quarter. FMR LLC now owns 7,617,928 shares of the oil and gas producer’s stock worth $138,418,000 after acquiring an additional 590,298 shares during the period. Hedge funds and other institutional investors own 32.49% of the company’s stock.
Shares of EPD traded up $0.37 during trading hours on Wednesday, reaching $16.04. 8,020,127 shares of the company’s stock traded hands, compared to its average volume of 9,272,393. The firm has a market capitalization of $35.06 billion, a price-to-earnings ratio of 7.86 and a beta of 1.42. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.95 and a quick ratio of 0.68. Enterprise Products Partners has a twelve month low of $10.27 and a twelve month high of $29.22. The business’s fifty day simple moving average is $17.19 and its two-hundred day simple moving average is $17.37.
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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