Wunderlich Securities Reiterates Buy, $54 PT on Enterprise Products

Wunderlich Securities reiterates its Buy rating and $54 price target on Enterprise Products EPD as the company's 4Q11 results were above estimates. Wunderlich Securities says, "Enterprise Products Partners L.P. (EPD) reported 4Q11 EBITDA of $1,198 million and distributable cash flow of $1,409 million, which were above our estimates. We believe that Enterprise is a core holding for investors in the MLP sector. The partnership should continue to increase its distribution over the next several years as its strong slate of organic growth projects pushes cash flow higher. The balance sheet and estimated coverage ratios demonstrate that the partnership is financially strong." EPD closed at %50.11 a share yesterday.