Wells Fargo Downgrades Enterprise GP Holdings L.P. (EPE) to Market Perform on Valuation
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Wells Fargo downgrades Enterprise GP Holdings L.P. (NYSE: EPE) to Market Perform on valuation. Valuation range increased from $50-55 to $59-63.
Wells analyst says, "Enterprise Products Partners (NYSE: EPD) announced an agreement to acquire all the outstanding units of its publicly traded GP, Enterprise GP Holdings (EPE) in a stock-for-stock transaction. The transaction has no impact to our positive outlook for EPD; namely, management intends to maintain its current distribution growth trajectory, capex spending levels, and IRR targets for new growth projects. Additionally, the transaction has a negligible dilutive impact to EPD’s distribution coverage based on our calculations."
To see all the upgrades/downgrades on shares of EPD, visit our Analyst Ratings page.
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Wells analyst says, "Enterprise Products Partners (NYSE: EPD) announced an agreement to acquire all the outstanding units of its publicly traded GP, Enterprise GP Holdings (EPE) in a stock-for-stock transaction. The transaction has no impact to our positive outlook for EPD; namely, management intends to maintain its current distribution growth trajectory, capex spending levels, and IRR targets for new growth projects. Additionally, the transaction has a negligible dilutive impact to EPD’s distribution coverage based on our calculations."
To see all the upgrades/downgrades on shares of EPD, visit our Analyst Ratings page.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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