Mizuho Reiterates Outperform Rating on Enterprise Products Partners (EPD)

Mizuho analyst Gabriel Moreen reiterated an Outperform rating and $34.00 price target on Enterprise Products Partners (NYSE: EPD).

The analyst commented: "Last month, EPD announced the $950mn acquisition of privately-held Pinon Midstream - the partnership's first major deal since it acquired Navitas Midstream in early-2022. In our view, the deal has parallels to Navitas and emphasizes EPD's M&A philosophy, which has used M&A as a means to provide a foothold in a future growth platform. We are constructive on the deal as peer commentary has also endorsed growth in the region and expect EPD to benefit (longer-term) on its downstream NGL franchise. Outside Pinon, percolating 'risk off' sentiment in Energy could benefit EPD's unit performance despite the partnership's leverage to Permian associated gas dynamics given its pristine balance sheet, diversification and potential for additional free cash flow growth in 2026 as capex recedes. We also raise estimates on Pinon and greater than expected Petchem contributions as PDH facility issues shift to the rearview. Remain Outperform."

For an analyst ratings summary and ratings history on Enterprise Products Partners click here. For more ratings news on Enterprise Products Partners click here.

Shares of Enterprise Products Partners closed at $29.15 yesterday.

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