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Thursday, September 21, 2023

Enterprise Products Partners L.P. (NYSE:EPD) Stock is Soaring, Here is Why

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Enterprise Products Partners L.P. (EPD) shares are trading at higher $20.12 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $24.75.

To add more color to this target, the company’s high over the last year is $29.22 and the low is $10.27. Over the last 52 weeks, EPD is down -23.00% while the S&P 500 is up 17.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, EPD reported a profit of $1.35 billion. Enterprise Products Partners L.P. also saw revenues increase to $6.92 billion. In addition, EPD has free cash flow of $1.62 billion as of 09-2020. The company’s EBITDA came in at $1.9 billion which compares well with its peers.

EPD booked profit margins of 16.00%, its Return on Equity (ROE) is 18.10%, and its Return on Assets is 7.20%. All told, it is clear that, EPD needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. EPD has a short ratio of 3.97 and outstanding shares of 2.19B.

Company Outlook

EPD has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 8.11 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.05. Enterprise Products Partners L.P. EPD also noted assets of $63.74 billion at the end of the last quarter. Investors should also keep an eye on sector updates as EPD has historically followed its peers on positive news.

All told, Enterprise Products Partners L.P. EPD has strung together solid data and demonstrated underlying fundamentals. At its current valuation, EPD represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Enterprise Products Partners L.P. EPD is now commanding a market cap of 44.87B and a float of 1.47B. EPD is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of EPD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in EPD, either long or short, and we have not been compensated for this article.

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