Enterprise Products Partners L.P. (NYSE:EPD) Expected to Announce Quarterly Sales of $8.01 Billion

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Analysts expect Enterprise Products Partners L.P. (NYSE:EPD) to post $8.01 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Enterprise Products Partners’ earnings, with estimates ranging from $7.90 billion to $8.13 billion. Enterprise Products Partners reported sales of $9.18 billion during the same quarter last year, which would suggest a negative year over year growth rate of 12.7%. The firm is expected to issue its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that Enterprise Products Partners will report full year sales of $32.64 billion for the current financial year, with estimates ranging from $32.37 billion to $32.91 billion. For the next year, analysts forecast that the business will post sales of $33.60 billion, with estimates ranging from $32.91 billion to $34.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Enterprise Products Partners.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The business had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 14.07%. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, August 26th. Scotia Howard Weill initiated coverage on Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating for the company. Royal Bank of Canada initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.88.

NYSE EPD traded down $0.64 during trading on Monday, reaching $27.52. 10,708,876 shares of the company’s stock were exchanged, compared to its average volume of 5,331,446. The stock has a market cap of $60.57 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 3.16 and a beta of 0.87. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.72 and a current ratio of 0.91. The company has a 50 day moving average price of $26.51 and a two-hundred day moving average price of $28.21. Enterprise Products Partners has a 1 year low of $23.33 and a 1 year high of $30.86.

In other news, Director Randa Duncan Williams bought 322,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $25.96 per share, for a total transaction of $8,359,120.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. TCI Wealth Advisors Inc. increased its position in Enterprise Products Partners by 400.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 800 shares during the period. D Orazio & Associates Inc. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at about $30,000. Centersquare Investment Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $34,000. TRUE Private Wealth Advisors acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $41,000. Finally, Massey Quick Simon & CO. LLC increased its position in Enterprise Products Partners by 1,242.6% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,450 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 1,342 shares during the period. Institutional investors and hedge funds own 36.95% of the company’s stock.

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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