Enterprise Products (NYSE:EPD) – Research analysts at US Capital Advisors upped their Q1 2018 earnings per share estimates for Enterprise Products in a research note issued on Tuesday, April 17th. US Capital Advisors analyst B. Followill now anticipates that the oil and gas producer will earn $0.37 per share for the quarter, up from their prior estimate of $0.36. US Capital Advisors also issued estimates for Enterprise Products’ FY2018 earnings at $1.55 EPS.
Other analysts also recently issued research reports about the company. Barclays reduced their price objective on Enterprise Products from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Enterprise Products from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Seaport Global Securities raised Enterprise Products from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, March 8th. Bank of America began coverage on Enterprise Products in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.86.
Enterprise Products (NYSE:EPD) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Enterprise Products had a return on equity of 12.52% and a net margin of 9.57%. The business had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue was up 30.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Glenview Trust Co boosted its holdings in Enterprise Products by 21.5% during the 4th quarter. Glenview Trust Co now owns 11,391 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 2,017 shares during the period. BSW Wealth Partners lifted its holdings in shares of Enterprise Products by 26.5% in the 4th quarter. BSW Wealth Partners now owns 9,917 shares of the oil and gas producer’s stock worth $263,000 after buying an additional 2,080 shares during the period. FTB Advisors Inc. lifted its holdings in shares of Enterprise Products by 22.1% in the 4th quarter. FTB Advisors Inc. now owns 12,036 shares of the oil and gas producer’s stock worth $319,000 after buying an additional 2,180 shares during the period. Huntington National Bank lifted its holdings in shares of Enterprise Products by 1.4% in the 4th quarter. Huntington National Bank now owns 157,422 shares of the oil and gas producer’s stock worth $4,173,000 after buying an additional 2,200 shares during the period. Finally, Mycio Wealth Partners LLC lifted its holdings in shares of Enterprise Products by 21.3% in the 4th quarter. Mycio Wealth Partners LLC now owns 12,703 shares of the oil and gas producer’s stock worth $337,000 after buying an additional 2,230 shares during the period. Institutional investors own 36.35% of the company’s stock.
In other Enterprise Products news, CEO Aj Teague acquired 24,665 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was bought at an average price of $24.54 per share, for a total transaction of $605,279.10. Following the acquisition, the chief executive officer now directly owns 1,616,790 shares in the company, valued at $39,676,026.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.50% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 8th. Stockholders of record on Monday, April 30th will be given a dividend of $0.4275 per share. The ex-dividend date is Friday, April 27th. This represents a $1.71 annualized dividend and a dividend yield of 6.37%. This is an increase from Enterprise Products’s previous quarterly dividend of $0.43. Enterprise Products’s payout ratio is currently 128.79%.
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About Enterprise Products
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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