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Enterprise Products Partners L.P. Message Board

  • bluesnbrewsman bluesnbrewsman Aug 22, 2010 12:20 PM Flag


    Anyone own both stocks or have an opinion on forward growth /profitability of EDP VS ETP?
    I own ETP and am thinking of buying some EDP also , but according to yahoo's "key statistics", EDP will only grow half as fast as ETP.

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    • Didn't ETP just have a secondary offering? If so than the price drop is a usual result?

    • [1] At which stat on the key stats page are you deriving a forward growth rate?

      [2] WHY are you looking at EPD's key stats on Yahoo finance? You will not find the key MLP metrics there/here.

      [3] When I use Yahoo finance for MLPs, it is only for the 5 year forward CAGRs - which can be found on the 'analyst estimates' page.

      [4] The source that Yahoo uses for these numbers comes from as high as 15 difference analysts. Have you listened to EPD's conference calls or ETP's conference calls? There are not 15 difference brokerages that closely follow MLPs. So you have a mix of estimates from knowledgeable sources and estimates from part-timers. So the consensus numbers found at Yahoo can be flakey.

      [5] There are even discount brokerages that have access to brokerage reports from Barclays or Credit Suisse. Unless you are going to put in a lot of hours following MLPs, you should want access to those analyst reports. I went to a different brokerage to make my MLP purchases so that I could have access.

      [6] If you can not explain why ETP has failed to raise its distribution in a while, and unless you can calculate if ETP had DCF that covered its Q3-10 distribution, then you probably need access to 'full time' analyst information. But if you can accurately answer those questions, then you might be OK without access to an analyst.

      • 1 Reply to factoids2002
      • factoids,

        You raise some good points. ETP is currently struggling. I think they will do well in the long run as they have several very large projects that are soon to come online and will begin producing cash flow. That being said, I still think EPD is the safer play. They are a strategic player in NGLs, ETP does have its fingers in several pies (MidContinent Express, Fayetteveille Express etc) but they don't seem to have the ability to control a business like EPD does.

        Also, ETP hasn't paid their 3rd Q distribution yet, the 3rd Q isn't over yet, they just paid the 2nd Q distribution.

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