Barclays Maintains an 'Overweight' on Enterprise Products Partners (EPD); Gas Storage Asset Sale Reduces Equity Financing Needs

Barclays maintains an 'Overweight' on Enterprise Products Partners (NYSE: EPD) price target of $47.00.

Barclays analyst says, "We view the natural gas storage asset sale favorably, partially finances large 2011 organic growth program. EPD fetched a fairly attractive price for its sale of Mississippi natural gas storage assets, especially amid the challenging gas storage backdrop of low seasonal spreads and low price volatility. Importantly, the $550 million sale significantly reduces EPD's financing needs for its $3.7 billion capex budget in 2011 to the point where it may not need to raise equity in 2011."

For more ratings news on Enterprise Products Partners click here and for the rating history of Enterprise Products Partners click here.

Shares of Enterprise Products Partners closed at $42.78 yesterday.

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