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Earnings Previews: Enterprise Products, Exxon Mobil, NXP Semiconductors, Sirius XM, UPS

Economic concerns outweighed corporate earnings Friday morning. Lower-than-expected consumer spending coupled with higher inflation and low spirits among consumers were driving 10-year and two-year Treasury yields lower.

Apple beat the revenue estimate by about $4.5 billion and the per-share earnings estimate by 11%, and shares traded higher by around 4.5% shortly after the opening bell. Credit services firm Visa beat the earnings estimate by 6.5% and the revenue estimate by 2.4% and also traded up by more than 6%.

There were no earnings reports of interest for Friday afternoon or Monday morning.

Here is a look at five firms scheduled to report results after markets close on Monday or before they open on Tuesday.

Enterprise Products

Energy pipeline operator Enterprise Products Partners LP (NYSE: EPD) has posted a share price gain of about 26% over the past 12 months. It is the second-largest oil and gas midstream (pipeline and infrastructure) company in the country, with a market cap of about $53.6 billion. Enterprise will report fourth-quarter results first thing Tuesday morning.

Regardless of the prices for oil and natural gas, pipeline companies will get paid to transport it, even if the seller does not have enough to put on the line. These guaranteed cash flows make master limited partnerships (MLPs) hot properties with investors looking for significant returns.

Of the 24 firms covering the stock, 21 have a rating of Buy or Strong Buy on the shares. At a recent price of around $23.70 a share, the stock trades about 18% below its consensus price target of $28. At the high target of $32, the upside potential on Enterprise stock is 35%.

Revenue for the December quarter is forecast at $9.67 billion, which would be down about 10.8% sequentially but 37.3% higher year over year. Adjusted earnings per share (EPS) are forecast at $0.54, up less than 1% sequentially and 5.9% higher year over year. For the full 2021 fiscal year, analysts expect to see $2.16 in EPS, up 2.6% year over year, on sales of $39.56 billion, an increase of 45.3%.

Enterprise stock trades at about 11.1 times expected 2021 EPS, 11.0 times estimated 2022 earnings of $2.18 and 10.3 times estimated 2023 earnings of $2.34. The stock’s 52-week range is $20.10 to $25.69, and the company pays an annual distribution of $1.86 (yield of 7.61%). Total shareholder return for the past 12 months was 24.4%.

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