Oil and natural gas transporter Enterprise Products Partners L.P. (EPD) on Thursday posted mixed fourth quarter earnings results, as profit bested Wall Street’s view but revenue fell well short of expectations.
The Houston-based company reported fourth quarter net income of $615.5 million, or 68 cents per share, compared with $721.1 million, or 82 cents per share, in the year-ago period. Excluding special items, adjusted profit was 71 cents per share.
Revenue fell 4.9% from last year to $11.01 billion.
On average, Wall Street analysts expected a smaller profit of 65 cents per share, albeit on higher revenue of $11.93 billion.
Enterprise Products shares were mostly flat in Thursday morning trading. The stock has risen 16% in the past year.
The Bottom Line
Shares of EPD currently offer a 4.7% dividend yield, based on last night’s closing price of $55.94 and the company’s annualized dividend payout of $2.64 per share.
Enterprise Products Partners L.P. (EPD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here