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The largest Insider Buys this week were for Enterprise Products Partners LP (EPD), General Electric Co. (GE), Keurig Dr Pepper Inc. (KDP) and Weyerhaeuser Co. (WY). President and CFO W. Randall Fowler bought 10,000 shares of EPD stock on Nov. 13 at the average price of $26.19. Warning! GuruFocus has detected 4 Warning Signs with EPD.
In the Marcellus Shale, Cabot (COG) estimates roughly 3,000 of undrilled prospective drilling locations, reflecting strong production prospects.
According to Wall Street analyst estimates, Energy Transfer (ET) stock has a median price target of $22.33, compared to its current market price of $14.93, which implies an upside potential of 50% over the next 12 months. Morgan Stanley raised ET’s price target from $23.0 to $25.0 on November 9. Sixteen Wall Street analysts currently follow Energy Transfer stock. Six have given the stock “strong buy” ratings while eight have given it “buy” ratings.
Energy Transfer (ET) stock is currently trading at a forward enterprise value–to–EBITDA multiple of 12x, based on its expected 2019 earnings. Its five-year historical average valuation is over 16x. Peers’ average is close to 10x. So Energy Transfer stock seems to be trading at a premium valuation to its peers, and it seems inexpensive compared to its historical average. Although Energy Transfer stock looks expensive, its robust expected growth of above 15% next year likely justifies the premium valuation.
CEO of Enterprise Products Partners Lp (NYSE:EPD) Aj Teague bought 15,005 shares of EPD on 11/14/2018 at an average price of $26.32 a share.
Energy Transfer’s (ET) leverage position has improved over the last few quarters despite an increase in total debt. At the end of September 30, it had net debt of $44.4 billion—a 1.4% increase compared to its net debt at the end of 2017.
Chesapeake's (CHK) agreement with Hi-Crush relates to in-basin purchase of Northern White frac sand to support completions program in the Marcellus and Powder River Basins.
The Zacks Analyst Blog Highlights: Eni, Equinor, Enterprise Products, Energen and Phillips 66
Enterprise Products Partners L.P. announced today that it will participate in investor meetings at the RBC Capital Markets Midstream Conference Wednesday, November 14, 2018 in Dallas, Texas.
Phillips 66's (PSX) Liberty Pipeline to enable shippers to secure crude oil transportation from the Rockies and the Bakken production areas.
NEW YORK, Nov. 07, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
TransCanada (TRP) reported its third-quarter results on November 1. On November 2, CIBC raised its target price for TransCanada from 73 Canadian dollars to 74 Canadian dollars. Among the 18 analysts surveyed by Reuters covering TransCanada, four analysts rated it as a “strong buy,” eight analysts rated it as a “buy,” and six analysts rated it as a “hold.” The median target price for TransCanada is 65 Canadian dollars.
Enterprise Products Partners L.P. (EPD) today announced a series of projects designed to provide an additional 55,000 barrels per day (“BPD”) of fractionation capacity at existing facilities in Texas and Louisiana. As part of the initiative, Enterprise plans to optimize its Shoup fractionator in Nueces County, Texas by expanding and repurposing a portion of the partnership’s South Texas pipeline system. Construction of approximately 21 miles of new pipeline along with the conversion of approximately 65 miles of existing natural gas pipeline to natural gas liquids (“NGL”) service would allow Enterprise to supply Shoup with 25,000 BPD of additional NGL volumes.
Wall Street analysts expect significant upside potential in Cheniere Energy (LNG) stock. It has a median price target of $77.63, compared to its current market price of $60.27, indicating an estimated upside of more than 28% over the next 12 months.
Cheniere Energy (LNG) stock was weak recently, but it’s still up more than 10% so far this year. The MLP and Energy Infrastructure ETF (MLPX) has fallen more than 11% year-to-date. Cheniere Energy accounts for ~8.3% of MLPX.
Crude oil prices fell 6.6% last week. Despite the fall, most of the top midstream stocks managed to be in the green for the week. Williams Companies (WMB), which reported strong third-quarter results on October 31, rose 5.2% for the week. Kinder Morgan (KMI), Enterprise Products Partners (EPD), and Energy Transfer (ET) rose 1.6%, 1.0%, and 1.3%, respectively. Enterprise Products Partners reported strong Q3 performance on October 31.