Morningstar

Enterprise Products Partners LP EPD

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Stock XNYS Rating as of
$28.88 −0.37 (1.27%)
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As of Delayed Price Closed

Company Report

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Enterprise Makes a Good Deal With Pinon for Sour Gas Opportunities

Brett Castelli

Geographical and asset diversity allows Enterprise Products Partners to pursue growth in nearly any environment. It can aggregate supply of every type of hydrocarbon from multiple sources in major producing basins and deliver it to multiple end markets (refiners, petrochemicals, exports). Its robust marketing operations let it clip transaction-fee-like earnings during volatile oil and gas markets like we saw with winter storm Uri in 2021. Enterprise placed $3.5 billion of projects in service in 2023 and looks to invest a similar amount in 2024, which will provide solid volumes growth and new fees. A final investment decision on its oil export terminal could arrive by the end of 2024 too.

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Price vs Fair Value

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EPD is trading at a 59% premium.
Price
$28.88
Fair Value
$44.00
Uncertainty
Medium
1-Star Price
$87.90
5-Star Price
$28.90
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

As the largest player in NGL market, Enterprise is most leveraged to petrochemical demand in the Gulf Coast and international markets.

Bears

The marketing operations depend on differential spreads that could continue to narrow without investments by Enterprise and third parties to spur demand.

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Trading Information

Previous Close Price
$29.25
Day Range
$28.78–29.28
52-Week Range
$25.61–30.05
Bid/Ask
$28.94 / $29.00
Market Cap
$62.68 Bil
Volume/Avg
3.9 Mil / 4.2 Mil

Key Statistics

Price/Earnings (Normalized)
10.95
Price/Sales
1.15
Dividend Yield (Trailing)
7.12%
Dividend Yield (Forward)
7.27%
Total Yield
7.12%

Company Profile

Enterprise Products Partners is a master limited partnership that transports and processes natural gas, natural gas liquids, crude oil, refined products, and petrochemicals. It is one of the largest midstream companies, with operations servicing most producing regions in the Lower 48 states. Enterprise is particularly dominant in the NGL market and is one of the few MLPs that provide midstream services across the full hydrocarbon value chain.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Large Value
Total Number of Employees
0
Website
https://www.enterpriseproducts.com

Competitors

Valuation

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Metric
EPD
KMI
OKE
Price/Earnings (Normalized)
 10.9519.1818.45
Price/Book Value
 2.241.593.12
Price/Sales
 1.153.142.58
Price/Cash Flow
 7.508.7411.35
Price/Earnings
EPD
KMI
OKE

Financial Strength

Metric
EPD
KMI
OKE
Quick Ratio
 0.590.230.34
Current Ratio
 0.910.370.62
Interest Coverage
 5.442.784.02
Quick Ratio
EPD
KMI
OKE

Profitability

Metric
EPD
KMI
OKE
Return on Assets (Normalized)
 8.36%3.57%6.64%
Return on Equity (Normalized)
 21.50%8.24%18.27%
Return on Invested Capital (Normalized)
 12.45%6.22%10.14%
Return on Assets
EPD
KMI
OKE

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