In comparison, Magellan Midstream Partners (MMP), Oneok (OKE), Enbridge Energy Partners (EEP), and Energy Transfer Partners (ETP) have risen 7.0%, 134.0%, 6.0%, and 2.0%, respectively, in the same period.
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Enterprise Products Partners (EPD) currently trades just 1.0% above its 50-day moving average and 2.0% below its 200-day moving average. It fell below its 50-day moving average at the end of July and since then has only temporarily crossed above this average. EPD also fell below its 200-day moving average at the end of October.
Toward the end of November, EPD’s 50-day moving average crossed below the 200-day moving average. This indicator suggests a further possible downside for the stock in the short term. The above graph shows EPD’s stock price and its 50-day and 200-day moving averages.
In this series, we’ll be taking a look at the fundamental strengths of Enterprise Products Partners and the impact of a challenging commodity price environment on the company. We’ll analyze EPD’s price targets, the performance of its various segments, and its leverage, distributable cash flows, capital expenditure, and distribution growth. We’ll also look at its valuation at it relates to its historical valuation and its peers.
Let’s start by seeing how Enterprise Products Partners’ business segments are performing.