Enterprise Products Partners L.P. (NYSE: EPD) recently received a number of ratings updates from brokerages and research firms:

  • 9/19/2016 – Enterprise Products Partners L.P. was upgraded by analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating. They now have a $34.00 price target on the stock. They wrote, “We believe EPD offers a solid risk/reward proposition given the MLP’s conservative distribution policy (~1.30x coverage in 2016–2019), high quality & interconnected asset footprint, and best in class management team,” analyst John Edwards wrote in a note. Related Link: Evercore ISI Group Initiates Coverage On Enterprise Products At BuyMeanwhile, the market is still pricing the possibility of Enterprise buying Williams Companies Inc (NYSE: WMB) at an aggressive price, despite both sides confirming that the M&A talks have ended.”We believe if talks resume EPD is unlikely to consider terms which would be value destructive or dilutive,” Edwards continued. “EPD has lot of legroom before a prospective deal becomes dilutive, suggesting that investor concerns on this topic are overblown,”
  • 9/15/2016 – Enterprise Products Partners L.P. is now covered by analysts at Evercore ISI. They set a “buy” rating and a $30.00 price target on the stock.
  • 9/13/2016 – Enterprise Products Partners L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $29.70 price target on the stock.
  • 9/5/2016 – Enterprise Products Partners L.P. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $29.70 price target on the stock.
  • 8/31/2016 – Enterprise Products Partners L.P. had its price target lowered by analysts at Wunderlich from $33.00 to $32.00. They now have a “buy” rating on the stock.
  • 8/22/2016 – Enterprise Products Partners L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $30.22 price target on the stock.
  • 8/18/2016 – Enterprise Products Partners L.P. was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $30.00 price target on the stock, down previously from $33.00.
  • 8/18/2016 – Enterprise Products Partners L.P. was given a new $34.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 8/10/2016 – Enterprise Products Partners L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $30.32 price target on the stock.
  • 8/1/2016 – Enterprise Products Partners L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $31.50 price target on the stock.
  • 7/29/2016 – Enterprise Products Partners L.P. had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $34.00 price target on the stock.
  • 7/29/2016 – Enterprise Products Partners L.P. had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG. They wrote, “We continue to share management’s view of better times ahead”, particularly in regards to ethane demand and prices. With current ethane production of 1.2-1.3 Mbpd (we estimate ~500kbp-700kbpd of rejection) and expected demand of ~1.8 Mbpd by 2018 including ethane exports and closer to 2.2 Mbpd by 2020 including exports. The EBITDA contribution from ethane uplift confirmed it could be 5-10% of current EBITDA (~$300mm) which they originally laid out in May. Bottom line, the quarter once again highlighted the benefits of interconnectivity which we believe will continue to rise in importance for producers and we reiterate our view of EPD as a core holding. We are raising our TP by $4, to $34 as we roll our valuation forward one Q. Changes to Estimates: Our 2016 EBITDA falls by ~1%, to $5.42B, given that we don’t forecast one-time items which contributed to the 2Q EBITDA beat (and segment operating margin was below our est.), and we roll forward lower margin assumptions for Crude Pipelines. Our 2017-2018 EBITDA estimates are mostly held at $5.97B and $6.37B. Our 2016 DCF stays at $4.27B while 2017 and 2018 rise by 1-2%, to $4.77B and $5.10B, respectively, on a lower equity in income offset.””

Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.01% during trading on Wednesday, reaching $26.92. 2,129,443 shares of the company’s stock were exchanged. The company has a market cap of $56.31 billion, a P/E ratio of 21.50 and a beta of 0.92. Enterprise Products Partners L.P. has a 12-month low of $19.00 and a 12-month high of $30.11. The stock’s 50-day moving average is $26.82 and its 200-day moving average is $26.86.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post $1.25 EPS for the current fiscal year.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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