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Enterprise Products Partners
(NYSE:EPD)
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Rating:75Outperform
Price Target:
$43.00
▲(11.03% Upside)
Action:Reiterated
Date:08/05/26
EPD scores well on valuation and the latest earnings call momentum (record EBITDA/cash flow, distribution growth, strong volumes, and largely contracted export capacity). The main constraints on the score are financial profile watch-outs—particularly the sharp TTM free-cash-flow decline and meaningful leverage—along with some missing/invalid TTM balance-sheet and cash coverage fields that reduce confidence in the most recent snapshot. Technicals are supportive with price above key moving averages and moderate momentum.
Positive Factors
Integrated Asset Footprint
Enterprise’s large, integrated pipeline, fractionation, storage and marine footprint—concentrated on the Gulf Coast—creates durable commercial optionality. High contracted export capacity (~90%) limits merchant exposure, stabilizes throughput revenue and supports long-term fee-based cash flows.
Negative Factors
Weakened Free Cash Flow
Sharp decline in trailing free cash flow and lower earnings-to-FCF conversion mean less internal funding for discretionary actions. Sustained higher growth capex and lower FCF conversion can pressure distributions, buybacks and limit balance-sheet flexibility over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Asset Footprint
Enterprise’s large, integrated pipeline, fractionation, storage and marine footprint—concentrated on the Gulf Coast—creates durable commercial optionality. High contracted export capacity (~90%) limits merchant exposure, stabilizes throughput revenue and supports long-term fee-based cash flows.
Read all positive factors
Enterprise Products Partners Key Performance Indicators (KPIs)
Any
Revenue by Segment
Highlights the revenue generated from different business segments, providing insight into which areas drive growth and profitability, and how diversified the company's income streams are.
Highlights the revenue generated from different business segments, providing insight into which areas drive growth and profitability, and how diversified the company's income streams are.
Data provided by:
The Fly
The FlyEnterprise Products Partners (EPD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.32B
Dividend Yield5.8%
Average Volume (3M)2.82M
Price to Earnings (P/E)13.2
Beta (1Y)0.20
Revenue Growth7.17%
EPS GrowthN/A
CountryUS
Employees8,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)2.88
Shares Outstanding2,163,518,300
10 Day Avg. Volume3,000,472
30 Day Avg. Volume2,819,855
Financial Highlights & Ratios
PEG Ratio-10.81
Price to Book (P/B)2.36
Price to Sales (P/S)1.33
P/FCF Ratio23.66
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$41.00Price Target Upside5.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)2.93
Revenue Forecast (FY)$58.99B
Enterprise Products Partners Business Overview & Revenue Model
Company Description
Enterprise Products Partners L.P. delivers essential midstream energy services, connecting both producers and consumers of diverse commodities such as natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. Its op...
How the Company Makes Money
EPD primarily makes money by charging fees for midstream services under contracts with producers, refiners, petrochemical companies, and marketers. Key revenue-generating activities include: (1) Transportation: tariff and fee revenue for moving na...
Enterprise Products Partners Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented a strongly positive operational and financial quarter highlighted by record EBITDA (+17%), record adjusted cash flow (+19%), robust volume growth (pipeline +8%, marine terminals +33%), significant capital projects sanctioned and a strengthened liquidity position. Management acknowledged near-term market and commodity volatility (notably normalization after an April–May uplift and pressure on LPG rates from added export capacity), higher growth capex levels that compress discretionary flexibility, and some asset-specific operational interruptions. On balance the company demonstrated durable fundamentals, a constructive growth outlook with largely contracted export capacity, and disciplined balance-sheet management, while noting risks tied to commodity volatility and near-term market absorption of new export supply.Positive Updates
Record EBITDA and Strong Earnings Growth
Generated record EBITDA of $2.8 billion in Q2 2026, a 17% increase versus Q2 2025; provided 1x coverage of distributions.
Negative Updates
Export Tariff/Rate Pressure and Near-Term Overcapacity Risk
As new export capacity (including Enterprise's Neches River expansion and other market projects) comes online, listing rates for LPG have fallen and terminal fees may be lower and less volatile in the near term; market may take time to absorb new export capacity.
Read all updates
Q2-2026 Updates
Positive
Negative
Record EBITDA and Strong Earnings Growth
Generated record EBITDA of $2.8 billion in Q2 2026, a 17% increase versus Q2 2025; provided 1x coverage of distributions.
Read all positive updates
Company Guidance
The call provided concrete near‑term guidance and metric targets: Q2 results included record EBITDA of $2.8B (up 17% YoY) and adjusted cash flow from operations of $2.5B (up 19% YoY), with 1x distribution coverage; declared distribution was $0.56/unit (up 2.8% YoY) and the 12‑month payout ratio was ~56% after ~$4.8B in distributions and $404M of buybacks (34% of a $5B repurchase program). Quarter volumes were strong (14.7M barrels/day oil equivalent, pipeline volumes +8%, marine terminals +33%, 2.8M bpd across docks), natural gas processing inlet volumes were 8.1 Bcf/d (Permian 4.3 Bcf/d, +14% YoY) and NGL pipelines were ~86% utilized. CapEx and cash guidance: Q2 capex $1.2B ($1.0B growth, $140M sustaining), 2026 gross capex expected to net $2.9–$3.4B after ~$600M asset sale proceeds, sustaining capex ~ $600M, 2027 growth capex ≈ $3B, and management still sees discretionary free cash flow for 2026 potentially approaching $1B despite a >$700M increase in growth spend YTD. Balance sheet and liquidity metrics: total debt ~$33.5B, weighted‑avg cost of debt 4.7%, ~97% fixed, weighted‑avg life ~17 years, consolidated liquidity ~$4B (now ~$5B after a $1B short‑term facility), and net leverage at the 3.0x target (3.0 ±0.25). Major project timing: Neches River LPG expansion in service by year‑end, Plant 15 (Mont Belvieu) ~150,000 bpd expected Q1 2028, Plant 13 (Delaware) ~300 MMcf/d Q3 2028, and Plant 11 (Midland) ~300 MMcf/d Q1 2029.Enterprise Products Partners Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.47B | 52.60B | 56.22B | 49.72B | 58.19B | 40.81B |
| Gross Profit | 7.75B | 7.16B | 7.22B | 6.72B | 6.72B | 5.95B |
| EBITDA | 10.61B | 9.92B | 9.59B | 9.05B | 8.91B | 7.98B |
| Net Income | 6.29B | 5.81B | 5.90B | 5.53B | 5.49B | 4.64B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 77.90B | 77.17B | 70.98B | 68.11B | 67.53B |
| Cash, Cash Equivalents and Short-Term Investments | 191.00M | 1.68B | 583.00M | 180.00M | 76.00M | 2.82B |
| Total Debt | 0.00 | 34.93B | 32.26B | 29.07B | 28.64B | 29.87B |
| Total Liabilities | -30.39B | 47.41B | 47.58B | 42.22B | 40.41B | 41.09B |
| Stockholders Equity | 30.39B | 29.74B | 28.73B | 27.67B | 26.62B | 25.33B |
Cash Flow | ||||||
| Free Cash Flow | 1.45B | 2.96B | 3.57B | 4.30B | 6.08B | 6.29B |
| Operating Cash Flow | 8.86B | 8.59B | 8.12B | 7.57B | 8.04B | 8.51B |
| Investing Cash Flow | -1.64B | -5.49B | -5.43B | -3.20B | -4.95B | -2.13B |
| Financing Cash Flow | 3.12B | -2.69B | -2.16B | -4.26B | -5.84B | -4.57B |
Enterprise Products Partners Technical Analysis
Positive
38.73
Price Trends
37.05
Positive
37.12
Positive
34.45
Positive
Market Momentum
0.27
Positive
51.90
Neutral
33.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EPD, the sentiment is Positive. The current price of 38.73 is above the 20-day moving average (MA) of 37.72, above the 50-day MA of 37.05, and above the 200-day MA of 34.45, indicating a bullish trend. The MACD of 0.27 indicates Positive momentum. The RSI at 51.90 is Neutral, neither overbought nor oversold. The STOCH value of 33.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EPD.
Enterprise Products Partners Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $59.31B | 12.62 | 33.42% | 7.14% | 3.18% | 6.43% | |
75 Outperform | $82.32B | 13.21 | 20.04% | 5.65% | 7.17% | ― | |
73 Outperform | $71.66B | 20.63 | 11.11% | 3.58% | 12.44% | 27.19% | |
71 Outperform | $70.06B | 15.19 | 15.11% | 6.56% | 12.46% | -10.48% | |
67 Neutral | $57.22B | 16.16 | 16.28% | 4.51% | 41.04% | 9.18% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $87.49B | 31.24 | 24.23% | 2.77% | 9.99% | 22.02% |
* Energy Sector Average
EPD
Enterprise Products Partners
37.72
8.43
28.77%
ET
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20.34
3.98
24.37%
KMI
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31.12
5.39
20.96%
OKE
Oneok
87.24
15.65
21.86%
WMB
Williams Co
71.81
15.70
27.98%
MPLX
MPLX
59.29
11.66
24.49%
Enterprise Products Partners Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresPrivate Placements and Financing
Enterprise Products Partners Reports Record Second-Quarter Results
Positive
Jul 30, 2026
On July 28, 2026, Enterprise Products Operating LLC secured a new $1.0 billion unsecured revolving credit facility, guaranteed by Enterprise Products Partners, to augment its existing $4.2 billion of borrowing capacity. The facility, which matures...
Business Operations and StrategyExecutive/Board Changes
Enterprise Products Announces CEO Succession and Leadership Transition
Positive
Jul 1, 2026
On July 1, 2026, Enterprise Products Partners announced that long-time executive A. James “Jim” Teague plans to retire as co-chief executive officer of its general partner effective January 4, 2027, after nearly three decades with the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.