Enterprise Products Partners LP
EPD: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$16.00 | Jtxw | Fbqskzhkwm |
Enterprise Products Earnings: Weak Quarter Due to Marketing, but Volumes Should Drive Strong 2024
Enterprise Products Partners' fourth-quarter results were disappointing, but we expect to maintain our $27.50 fair value estimate and wide moat rating. EBITDA for the full year was $9.3 billion, essentially the same as the previous year’s level, whereas our estimate was closer to $9.5 billion. We attribute the difference to lower marketing profits, largely due to weaker natural gas liquids and natural gas pricing.