Q2 2024 Earnings Forecast for Enterprise Products Partners L.P. Issued By US Capital Advisors (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) – Research analysts at US Capital Advisors lifted their Q2 2024 earnings per share (EPS) estimates for Enterprise Products Partners in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will earn $0.60 per share for the quarter, up from their previous estimate of $0.59. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $2.63 per share. US Capital Advisors also issued estimates for Enterprise Products Partners’ Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.63 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.78 EPS and FY2026 earnings at $2.65 EPS.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS.

Several other analysts also recently commented on the stock. Barclays lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Trading Down 1.8 %

Shares of NYSE:EPD opened at $28.07 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a 50-day simple moving average of $28.62 and a 200 day simple moving average of $27.34. The company has a market capitalization of $60.86 billion, a P/E ratio of 11.14 and a beta of 1.02.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Accordant Advisory Group Inc purchased a new stake in shares of Enterprise Products Partners in the first quarter worth approximately $26,000. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth $28,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners in the 1st quarter valued at $29,000. Rational Advisors LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter worth $48,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

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.