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Enterprise Products Partners
(NYSE:EPD)
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Rating:73Outperform
Price Target:
$41.00
â–²(11.81% Upside)
Action:Reiterated
Date:05/09/26
EPD’s score is led by steady underlying profitability and a favorable income/valuation profile, reinforced by a strong recent earnings call showing record volumes, solid coverage, and ongoing capital returns. The main constraint is the recent decline in free cash flow and uneven revenue trends, while technical signals indicate neutral-to-mildly improving momentum rather than a strong uptrend.
Positive Factors
Integrated Gulf‑Coast midstream footprint
Enterprise’s integrated asset base across pipelines, processing, fractionation, storage and export docks gives durable competitive advantage. Fee-based services and diversified asset types reduce single‑point demand risk and position the partnership to capture long‑term Gulf Coast export and processing volumes.
Negative Factors
Declining free cash flow trend
Material FCF compression reduces financial flexibility for growth, buybacks and distributable returns. The decline reflects higher growth capex and working‑capital/cycle effects; sustained lower FCF versus prior years raises reliance on external financing or slower capital returns if capex persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Gulf‑Coast midstream footprint
Enterprise’s integrated asset base across pipelines, processing, fractionation, storage and export docks gives durable competitive advantage. Fee-based services and diversified asset types reduce single‑point demand risk and position the partnership to capture long‑term Gulf Coast export and processing volumes.
Read all positive factors
Enterprise Products Partners Key Performance Indicators (KPIs)
Any
Gross Operating Margin By Segment
Measures profitability across different segments, revealing how efficiently each part of the business operates and where the company might improve cost management or expand margins.
Measures profitability across different segments, revealing how efficiently each part of the business operates and where the company might improve cost management or expand margins.
Data provided by:
The Fly
The FlyEnterprise Products Partners (EPD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$79.12B
Dividend Yield6.72%
Average Volume (3M)3.56M
Price to Earnings (P/E)13.6
Beta (1Y)0.20
Revenue Growth-9.49%
EPS Growth1.01%
CountryUS
Employees7,300
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)2.70
Shares Outstanding2,163,518,300
10 Day Avg. Volume2,734,476
30 Day Avg. Volume3,562,967
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 Cap1.43
Enterprise Value/Revenue2.19
Enterprise Value/Gross Profit15.46
Enterprise Value/Ebitda11.09
Forecast
1Y Price Target
$42.00Price Target Upside14.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)2.91
Revenue Forecast (FY)$54.76B
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 makes money primarily by charging fees for midstream services under contracts with producers, refiners, petrochemical companies, and marketers. Key revenue streams include: (1) Pipeline, gathering, and transportation fees: EPD earns tariffs an...
Enterprise Products Partners Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial quarter — multiple volumetric records, double-digit adjusted EBITDA and cash-flow growth, continued distribution increases, active buybacks, and robust export demand driven by geopolitical supply disruptions and improved petrochemical margins. Headwinds discussed were largely macro/market-driven (commodity volatility, uncertainty around duration of Middle East disruptions), some short-term mark-to-market and contract renegotiation impacts in the crude business, and higher near-term capex to support accelerating Permian projects. Overall, management presented confidence in continued momentum, disciplined capital allocation (buybacks and debt retirement), and a healthy balance between growth investment and returning capital to unitholders.Positive Updates
Strong Adjusted EBITDA and Income Growth
Adjusted EBITDA of $2.7 billion in Q1 2026, up 10% year-over-year; net income attributable to common unitholders of $1.5 billion ($0.68/unit), up 6% vs. 2025.
Negative Updates
Commodity Price Volatility and Uncertainty
Quarter marked by significant commodity volatility driven by Middle East conflict and supply disruptions; management notes uncertainty around duration of Strait of Hormuz impacts and that futures markets may understate physical-market tightness.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted EBITDA and Income Growth
Adjusted EBITDA of $2.7 billion in Q1 2026, up 10% year-over-year; net income attributable to common unitholders of $1.5 billion ($0.68/unit), up 6% vs. 2025.
Read all positive updates
Company Guidance
Enterprise’s guidance and near‑term outlook emphasized strong Q1 results and disciplined capital allocation: adjusted EBITDA was $2.7 billion (up 10% y/y), net income to common unitholders $1.5 billion ($0.68/unit, +6%), adjusted cash flow from operations $2.3 billion (+10%) with 1.8x distributable cash flow coverage, and a declared distribution of $0.55/unit (up 2.8%). Operationally they set 12 volumetric records (processing 8.3 Bcf/d of gas, +7%; fractionating 1.9 million bpd of NGLs, +16%; loading ~70 million barrels/month at docks with >88 million barrels scheduled in April; transporting 14.2 million BOE/d, +7%). Capital guidance was raised to net growth capex of roughly $2.3–$2.6 billion for 2026 (total capex invested year‑to‑date ~$988 million) and $2.0–$2.5 billion for 2027, with sustaining capex of roughly $500–$580 million; they reiterated discretionary free cash flow potential of about $1 billion for 2026 and a near‑term preference to split discretionary cash ~50–60% to buybacks. Q1 activity included repurchasing 3.1 million units (~$116 million) and DRIP/EUP purchases of ~1.0 million units (~$37 million); over the trailing 12 months they returned ~ $5.1 billion to equity (including ~$356 million of buybacks) with a 57% payout ratio. Balance‑sheet metrics: total debt principal ~$34.2 billion, weighted‑avg cost of debt 4.7% (~95% fixed), weighted‑avg life ~17 years, consolidated liquidity ~$3.3 billion, and net leverage ~3.2x (target 2.75–3.25x).Enterprise Products Partners Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.56B | 52.60B | 56.22B | 49.72B | 58.19B | 40.81B |
| Gross Profit | 7.31B | 7.16B | 7.22B | 6.72B | 6.72B | 5.95B |
| EBITDA | 10.19B | 9.92B | 9.59B | 9.05B | 8.91B | 7.98B |
| Net Income | 5.89B | 5.81B | 5.90B | 5.53B | 5.49B | 4.64B |
Balance Sheet | ||||||
| Total Assets | 80.64B | 77.90B | 77.17B | 70.98B | 68.11B | 67.53B |
| Cash, Cash Equivalents and Short-Term Investments | 1.39B | 1.68B | 583.00M | 180.00M | 76.00M | 2.82B |
| Total Debt | 34.42B | 34.93B | 32.26B | 29.07B | 28.64B | 29.87B |
| Total Liabilities | 50.29B | 47.41B | 47.58B | 42.22B | 40.41B | 41.09B |
| Stockholders Equity | 29.53B | 29.74B | 28.73B | 27.67B | 26.62B | 25.33B |
Cash Flow | ||||||
| Free Cash Flow | 2.20B | 2.96B | 3.57B | 4.30B | 6.08B | 6.29B |
| Operating Cash Flow | 7.74B | 8.59B | 8.12B | 7.57B | 8.04B | 8.51B |
| Investing Cash Flow | -4.83B | -5.49B | -5.43B | -3.20B | -4.95B | -2.13B |
| Financing Cash Flow | -2.98B | -2.69B | -2.16B | -4.26B | -5.84B | -4.57B |
Enterprise Products Partners Technical Analysis
Negative
36.67
Price Trends
37.69
Negative
37.07
Negative
33.89
Positive
Market Momentum
-0.39
Positive
43.82
Neutral
35.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EPD, the sentiment is Negative. The current price of 36.67 is below the 20-day moving average (MA) of 37.10, below the 50-day MA of 37.69, and above the 200-day MA of 33.89, indicating a neutral trend. The MACD of -0.39 indicates Positive momentum. The RSI at 43.82 is Neutral, neither overbought nor oversold. The STOCH value of 35.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $79.12B | 13.58 | 20.04% | 6.72% | -9.49% | 1.01% | |
73 Outperform | $65.97B | 14.22 | 13.97% | 8.04% | 12.46% | -10.48% | |
73 Outperform | $56.21B | 15.79 | 15.92% | 5.61% | 41.04% | 9.18% | |
73 Outperform | $57.35B | 12.14 | 33.27% | 7.31% | 3.18% | 6.43% | |
72 Outperform | $73.84B | 21.66 | 10.69% | 4.27% | 12.38% | 28.17% | |
70 Outperform | $95.30B | 32.78 | 22.37% | 3.35% | 9.99% | 22.02% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
EPD
Enterprise Products Partners
36.66
7.46
25.57%
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15.30%
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OKE
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15.59%
WMB
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75.06
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31.88%
MPLX
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19.74%
Enterprise Products Partners Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Enterprise Products Partners Establishes New 364-Day Credit Facility
Positive
Mar 27, 2026
On March 27, 2026, Enterprise Products Operating LLC entered into a new 364-day revolving credit agreement that provides up to $1.5 billion in borrowing capacity, expandable to $1.7 billion, at variable rates, replacing a prior facility of the sam...
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.