Trade Report: Today: Enterprise Products Partners L.P. to Post Q3 2016 Earnings of $0.31 Per Share, Jefferies Group Forecasts (EPD)

Today: Enterprise Products Partners L.P. to Post Q3 2016 Earnings of $0.31 Per Share, Jefferies Group Forecasts (EPD)

Enterprise Products Partners L.P. (NYSE:EPD) – Investment analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Enterprise Products Partners L.P. in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi anticipates that the firm will post earnings of $0.31 per share for the quarter. Jefferies Group has a “Buy” rating and a $33.00 price objective on the stock.

Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.04. Enterprise Products Partners L.P. had a net margin of 11.06% and a return on equity of 12.45%. The company earned $5.62 billion during the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Enterprise Products Partners L.P.’s revenue for the quarter was down 20.8% on a year-over-year basis.

EPD has been the subject of several other research reports. Vetr downgraded shares of Enterprise Products Partners L.P. from a “strong-buy” rating to a “buy” rating and set a $30.56 price objective for the company. in a research report on Wednesday, September 21st. Credit Suisse Group AG raised shares of Enterprise Products Partners L.P. from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Monday, September 19th. Wolfe Research initiated coverage on shares of Enterprise Products Partners L.P. in a research report on Friday, October 7th. They set an “outperform” rating for the company. Mizuho initiated coverage on Enterprise Products Partners L.P. in a report on Thursday, September 29th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Evercore ISI initiated coverage on Enterprise Products Partners L.P. in a report on Thursday, September 15th. They issued a “buy” rating and a $30.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $31.94.

Enterprise Products Partners L.P. (NYSE:EPD) opened at 26.89 on Monday. The firm has a 50 day moving average of $26.92 and a 200 day moving average of $27.17. Enterprise Products Partners L.P. has a 12-month low of $19.00 and a 12-month high of $30.11. The firm has a market capitalization of $56.24 billion, a P/E ratio of 21.48 and a beta of 0.93.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in Enterprise Products Partners L.P. during the second quarter worth $204,184,000. ING Groep NV raised its position in Enterprise Products Partners L.P. by 34.5% in the second quarter. ING Groep NV now owns 16,170,780 shares of the company’s stock worth $472,995,000 after buying an additional 4,147,645 shares during the last quarter. Toronto Dominion Bank raised its position in Enterprise Products Partners L.P. by 733.3% in the second quarter. Toronto Dominion Bank now owns 4,217,425 shares of the company’s stock worth $123,402,000 after buying an additional 3,711,300 shares during the last quarter. American Century Companies Inc. bought a new position in Enterprise Products Partners L.P. during the second quarter worth $103,798,000. Finally, Harvest Fund Advisors LLC raised its position in Enterprise Products Partners L.P. by 4.8% in the first quarter. Harvest Fund Advisors LLC now owns 37,709,426 shares of the company’s stock worth $928,406,000 after buying an additional 1,729,386 shares during the last quarter. 35.68% of the stock is owned by institutional investors and hedge funds.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date is Thursday, October 27th. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.40. Enterprise Products Partners L.P.’s payout ratio is presently 128.00%.

About Enterprise Products Partners L.P.

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