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Will Enterprise Products Partners Report Higher 3Q17 Earnings?

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Will Enterprise Products Partners Report Higher 3Q17 Earnings? PART 1 OF 4

Will Enterprise Products Partners Report Higher 3Q17 Earnings?

Higher expected EBITDA

Enterprise Products Partners (EPD) is set to report its 3Q17 results on November 2, 2017. Analysts expect it to report an EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.37 billion for the quarter—9% higher than 3Q16 and 2% higher than its EBITDA in 2Q17.

Will Enterprise Products Partners Report Higher 3Q17 Earnings?

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The above graph shows Enterprise Products Partners’ EBITDA and per unit distributions in the last 11 quarters.

3Q17 distribution

On October 13, 2017, Enterprise Products Partners increased its quarterly distributions 0.6% for 3Q17. The increase is less than half of the ~1.3% increase that the company provided for more than two years.

Currently, Enterprise Products is trading at a yield of ~6.7%. It’s higher compared to ~5.4% for ONEOK (OKE) and ~5.2% for Magellan Midstream Partners (MMP). In comparison, the SPDR S&P 500 ETF (SPY) (SPX-INDEX) yields nearly 2%. The energy sector forms ~6.0% of the S&P 500 Index.

YTD performance

Enterprise Products Partners has fallen 10% YTD (year-to-date). In comparison, Kinder Morgan (KMI) has fallen 17%, while ONEOK has fallen 8% during the same period. The Energy Select Sector SPDR ETF (XLE) has fallen 12% YTD. So far, SPY has risen 13% in 2017.

Kinder Morgan reported its 3Q17 results on October 18. To learn more, read Kinder Morgan’s 3Q17 Results Met Analysts’ Expectations. Magellan Midstream Partners is scheduled to report 3Q17 results on November 2, 2017.

In this series, we’ll discuss the factors that could drive Enterprise Products Partners’ earnings in 3Q17. We’ll also discuss its upcoming projects and analysts’ recommendations for the stock.

Let’s start with how Enterprise Products’ segments are expected to perform in 3Q17.

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