A recovery in commodity prices contributed to positive year-over-year revenue growth for all four companies in 1Q17.
This series analyzes the earnings and financial profiles of the four midstream giants: Enterprise Products Partners (EPD), Energy Transfer Equity (ETE), Kinder Morgan (KMI), and Williams Companies (WMB). All four companies are down so far in 2017.
On May 15, 2017, Eastman Chemical (EMN) introduced Treva, a breakthrough in engineering bioplastics.
On May 15, 2017, Praxair’s (PX) subsidiary NuCo2 announced the launch of XactCO2, a high-pressure carbon dioxide cylinder that can be mounted to any wall.
On May 18, 2017, Celanese (CE) announced price increases for propionic anhydride, isobutyric anhydride, and N-butyric anhydride for Europe only.
On May 20, 2017, Dow Chemical (DOW) signed an agreement with Saudi Arabia to construct a manufacturing facility that will produce varieties of polymers.
On May 15, 2017, LyondellBasell Industries (LYB) said it’s set to build a polyethylene plant at its La Porte, Texas, facility.
On May 18, 2017, 3M (MMM) said it received orders from the United States Army for PELTOR TEP-100 earplug kits and PELTOR ComTac communication headsets.
On May 15, 2017, International Flavors & Fragrances (IFF) announced its intention to raise $500.0 million in senior notes due in 2047.
On May 19, 2017, PPG (PPG) announced it has entered into an agreement with Vision Systems to develop window shading solutions for aircraft.
On May 17, 2017, Axalta (AXTA) received approval to renew two of its premium refinish brands—Spies Hecker and Standox—used to repair BMW passenger cars.
BDX stock’s consensus 12-month target price is $189.89, which implies a ~3.1% return potential as compared to BD’s price of $184.13 on May 19.
BD (BDX) expects its 2017 revenues to witness a YoY (year-over-year) rise of 4.5%–5% on a comparable currency-neutral basis.
On May 19, BD was trading at $184.13, as compared to its 50-day moving average of $183.37 and its 200-day moving average of $176.94.
For fiscal 2Q17, Becton, Dickinson, and Company (BDX), or BD, reported a 90-basis-point improvement in its gross margin.
In its diabetes business, BD (BDX) is working with Medtronic (MDT) to relaunch a new infusion set, after the temporary suspension of its shipments.
Enterprise Products Partners’ short interest is ~23.4 million shares, while the average daily trading volume is ~4.6 million shares.
Currently, Enterprise Products Partners (EPD) is trading 0.3% above its 200-day moving average and 0.8% below its 50-day moving average.
Enterprise Products Partners (EPD) stock had an implied volatility of 15.8% as of May 19, 2017, lower than its 15-day average implied volatility of 16.5%.
In this part of the series, we’ll look at the important events for the week ahead, from May 22–26, 2017.