Zacks: Brokerages Expect Enterprise GP Holdings L.P. (EPE) to Announce -$0.01 EPS

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Equities analysts expect that Enterprise GP Holdings L.P. (NYSE:EPE) will announce earnings per share of ($0.01) for the current quarter, Zacks reports. Five analysts have issued estimates for Enterprise GP’s earnings. The highest EPS estimate is $0.05 and the lowest is ($0.05). Enterprise GP reported earnings of ($0.12) per share in the same quarter last year, which would indicate a positive year over year growth rate of 91.7%. The firm is expected to announce its next earnings report on Wednesday, November 7th.

On average, analysts expect that Enterprise GP will report full year earnings of ($0.10) per share for the current year, with EPS estimates ranging from ($0.21) to $0.02. For the next year, analysts forecast that the business will report earnings of $0.03 per share, with EPS estimates ranging from ($0.21) to $0.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Enterprise GP.

Enterprise GP (NYSE:EPE) last posted its quarterly earnings results on Thursday, August 9th. The energy producer reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). Enterprise GP had a negative return on equity of 16.50% and a negative net margin of 18.51%. The firm had revenue of $329.00 million for the quarter, compared to the consensus estimate of $318.46 million.

Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Enterprise GP from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Stifel Nicolaus set a $3.00 price objective on shares of Enterprise GP and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, KLR Group reiterated a “hold” rating and issued a $3.00 price objective on shares of Enterprise GP in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Enterprise GP has a consensus rating of “Hold” and an average target price of $2.75.

NYSE EPE traded down $0.01 on Friday, hitting $2.11. 6,336 shares of the stock were exchanged, compared to its average volume of 861,439. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 12.09. Enterprise GP has a 52 week low of $1.26 and a 52 week high of $3.50. The firm has a market capitalization of $589.14 million, a P/E ratio of -5.38 and a beta of 3.59.

In related news, major shareholder Apollo Investment Fund Vii L. P sold 691,523 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $2.32, for a total value of $1,604,333.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jace D. Locke purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average price of $1.76 per share, for a total transaction of $26,400.00. Following the completion of the purchase, the vice president now directly owns 213,714 shares of the company’s stock, valued at approximately $376,136.64. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 115,000 shares of company stock worth $203,400 and sold 8,053,115 shares worth $14,998,269. 0.39% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in EPE. California Public Employees Retirement System grew its stake in shares of Enterprise GP by 30.1% in the first quarter. California Public Employees Retirement System now owns 186,592 shares of the energy producer’s stock valued at $250,000 after acquiring an additional 43,217 shares in the last quarter. A.R.T. Advisors LLC grew its stake in shares of Enterprise GP by 55.6% in the first quarter. A.R.T. Advisors LLC now owns 117,653 shares of the energy producer’s stock valued at $157,000 after acquiring an additional 42,060 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Enterprise GP by 95.8% in the first quarter. Barclays PLC now owns 78,710 shares of the energy producer’s stock valued at $106,000 after acquiring an additional 38,504 shares in the last quarter. Institutional investors and hedge funds own 66.51% of the company’s stock.

About Enterprise GP

EP Energy Corporation, an independent exploration and production company, engages in the exploration for and the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States. The company has interests in three primary areas, such as the Permian basin in West Texas; the Eagle Ford Shale in South Texas; and the Altamont Field in the Uinta basin in Northeastern Utah.

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