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Enterprise Products Partners L.P. Message Board

  • carm19-75 carm19-75 May 4, 2012 10:54 AM Flag

    New Analysts Reports

    EPD Reports
    Global Hunter Securities: EPD 1Q Update – Solid Results (Accumulate / $53.00)
    JPMorgan: 1Q12 Update; Another Quarter, Another Beat (Overweight / $57.00)
    Oppenheimer: NGL Demand Highlights Impressive Quarter (Outperform / $56.00)
    Raymond James: Solid 1Q12 Results; Raising 2012/13 Estimates (Strong Buy / $59.00)
    Wells Fargo Securities (Fixed Income): Q1 – Growth and Retention of Cash Impressive


    Hmmm. Growth and Retention of Cash Impressive.

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    • The reports are nice but the price targets are not inspired - because of impending interest rate increases? - nothing a surprise.

      We need to move on from the retaining earnings discussion as it got off discussing either opinions or facts. OK? I'm not the moderator of this board, just want it to stay both informative and positive.


      ARB

      • 2 Replies to arbtrdr
      • From the JPM reports:

        "We rate EPD Overweight with a YE2012 $57/unit price target. Enterprise’s integrated suite of services and dominant position in several key arenas (especially in the NGL markets and Eagle Ford) provide a significant advantage over peers, in our view, positioning EPD to win incremental expansion opportunities (ATEX, MAPL, Texas Express, etc). Through removing the GP burden and possessing an extensive organic growth backlog (~$7.5bn of projects under construction), we expect EPD will maintain attractive distribution growth and retain significant surplus DCF. Moreover, with significant distribution coverage, Enterprise looks relatively less expensive on a multiples basis versus looking at yield alone. Finally, Enterprise’s deep management bench has consistently delivered strong results throughout various cycles, providing us confidence that EPD can weather the tough times while thriving in the good."

        dominant position, significant advantage over peers, attractive distribution growth, deep management bench......

      • Below are the Raymond James Price Targets over the past three years. As you an see none of them seem inspired at the time, but the company met the target and the target continued to get raised. This pattern will continue for at least 18 months.

        Date Closing Price Target Price
        4/30/12 51.34 57.00
        2/2/12 50.11 56.00
        1/18/12 47.95 UR
        2/18/11 44.17 49.00
        1/27/11 43.45 UR
        10/27/10 42.63 47.00
        10/19/10 41.85 46.00
        7/27/10 38.48 42.00
        4/5/10 35.82 39.00
        1/20/10 32.59 37.00
        7/28/09 28.95 33.00
        5/4/09 24.13 29.00

 
EPD
78.56+0.16(+0.20%)Jul 23 4:04 PMEDT

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