Enterprise Products Partners L.P. (NYSE:EPD) Expected to Post Quarterly Sales of $8.70 Billion
Brokerages predict that Enterprise Products Partners L.P. (NYSE:EPD) will report sales of $8.70 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Enterprise Products Partners’ earnings, with the lowest sales estimate coming in at $8.08 billion and the highest estimate coming in at $9.95 billion. Enterprise Products Partners reported sales of $9.59 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.3%. The business is scheduled to issue its next earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that Enterprise Products Partners will report full year sales of $34.86 billion for the current fiscal year, with estimates ranging from $33.09 billion to $36.62 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $36.87 billion, with estimates ranging from $33.80 billion to $41.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Enterprise Products Partners.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS.
In related news, Director Murray E. Brasseux bought 5,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 37.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of EPD. Hilton Capital Management LLC increased its holdings in Enterprise Products Partners by 16.1% in the first quarter. Hilton Capital Management LLC now owns 774,156 shares of the oil and gas producer’s stock valued at $22,528,000 after buying an additional 107,426 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Enterprise Products Partners by 7.1% during the second quarter. Capital Advisors Inc. OK now owns 21,418 shares of the oil and gas producer’s stock valued at $618,000 after purchasing an additional 1,418 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Enterprise Products Partners by 25.5% during the 1st quarter. Commonwealth Bank of Australia now owns 58,717 shares of the oil and gas producer’s stock worth $1,708,000 after purchasing an additional 11,921 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Enterprise Products Partners by 71.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 12,395 shares of the oil and gas producer’s stock worth $357,000 after purchasing an additional 5,171 shares during the period. Finally, Smithbridge Asset Management Inc. DE lifted its holdings in shares of Enterprise Products Partners by 2.3% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock worth $2,272,000 after purchasing an additional 1,775 shares during the last quarter. 37.23% of the stock is owned by institutional investors.
Shares of EPD stock traded up $0.20 during mid-day trading on Friday, reaching $28.91. The stock had a trading volume of 3,465,831 shares, compared to its average volume of 3,908,085. Enterprise Products Partners has a 12-month low of $23.33 and a 12-month high of $30.86. The company has a market cap of $63.22 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 0.87. The business has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $28.89. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were given a $0.44 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 6.09%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is presently 90.72%.
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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