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UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Enterprise Products Partners

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In a report published Friday, Credit Suisse reiterated its Outperform rating on Enterprise Products Partners (NYSE: EPD), and slightly raised its price target from $60.00 to $61.00.

Credit Suisse noted, “EPD reported 3Q12 results that once again topped both Credit Suisse and Street estimates. EPD reported adjusted EBITDA of $1,063mm vs. Credit Suisse $985mm and consensus $1,028mm. EPD's NGL Pipeline and Services segment shrugged off a weakening NGL price environment with double digit volume growth and topped our estimate by $52mm. The Onshore Crude Oil P/L segment beat by $29mm on the ramping Seaway volumes ($14mm beat) and soaring Eagle Ford volumes which were up 98% y/y. EPD reported DCF of $0.85/unit vs. Credit Suisse $0.80/unit and Street $0.87/unit. EPD's DCF/unit would have been $0.90/unit ex non-recurring items.”

Enterprise Products Partners closed on Thursday at $52.78.

Latest Ratings for EPD

DateFirmActionFromTo
Jul 2015Stifel NicolausMaintainsBuy
Jul 2015DA DavidsonInitiates Coverage onBuy
Jun 2015SunTrust Robinson HumphreyInitiates Coverage onBuy

View More Analyst Ratings for EPD
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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