Enterprise Products Partners L.P. (NYSE:EPD – Free Report) – Equities researchers at US Capital Advisors raised their FY2028 earnings per share (EPS) estimates for Enterprise Products Partners in a report released on Tuesday, October 27th. US Capital Advisors analyst J. Carreker now forecasts that the oil and gas producer will post earnings of $3.43 per share for the year, up from their prior forecast of $3.42. The consensus estimate for Enterprise Products Partners’ current full-year earnings is $3.10 per share.
A number of other research firms also recently commented on EPD. Capital One Financial began coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price target for the company. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Morgan Stanley restated an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. TD Cowen reiterated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Finally, Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus target price of $40.12.
Read Our Latest Stock Analysis on EPD
Enterprise Products Partners Stock Up 0.4%
Shares of EPD opened at $37.15 on Wednesday. Enterprise Products Partners has a 12 month low of $30.02 and a 12 month high of $40.17. The firm’s 50 day moving average is $37.67 and its 200-day moving average is $37.16.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm earned $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% compared to the same quarter last year.
Enterprise Products Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.24 annualized dividend and a dividend yield of 6.0%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Energy Income Partners LLC bought a new position in shares of Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $416,553,000. BlackRock Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $250,887,000. Finally, Miller Howard Investments Inc. NY boosted its stake in Enterprise Products Partners by 4.1% during the third quarter. Miller Howard Investments Inc. NY now owns 3,344,118 shares of the oil and gas producer’s stock worth $119,084,000 after acquiring an additional 132,227 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.
About Enterprise Products Partners
Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.
Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.
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