Goldman Sachs Adjusts Estimates on Enterprise Products Partners (EPD)

Goldman Sachs adjusts its estimates on Enterprise Products Partners

following EPD's merger with general partner Enterprise GP Holdings. In its report to clients, Goldman Sachs writes, "We update our model following this all-equity transaction, where near-term effects of the merger negatively impact our estimates in 2010 (to $1.84 from $1.87) and 2011 (to $1.85 from $1.95). However, we believe the merger improves Enterprise's already strong relative position, and therefore raise our asset acquisition assumptions to $1bn in 2011-2012 from $100mn previously." EPD is trading at $42.26.