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What’s ahead for Enterprise Products Partners Stock?

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EPD’s moving averages

Currently, Enterprise Products Partners (EPD) is trading 0.1% below its 200-day moving average and 1.3% below its 50-day moving average. Its 50-day moving average may act as a resistance level.

EPD fell significantly below its 200-day average in the first week of May, but it’s recovered since then. The stock temporarily fell below its 200-day moving average in March 2017, but it recovered later.

As we can see in the above graph, the partnership’s 50-day moving average crossed above its 200-day moving average in February 2017. This kind of movement is considered a bullish sign.

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Analysts’ recommendations

Of the analysts surveyed by Reuters, ~93% have rated Enterprise Products Partners as a “buy,” and ~7% have rated it as a “hold.” No analysts have rated it as a “sell.”

The median target price for Enterprise Products Partners is $33. Currently, it’s trading at ~$27.08. If EPD attains this target price within a year, it would mean a 22% price return for investors.

As for other midstream companies, 48% of analysts have rated Plains All American Pipeline (PAA) as a “buy,” and 47% have rated Magellan Midstream Partners (MMP) as a “buy.”

In the next part of the series, we’ll take a look at EPD’s expected price range for the week based on its implied volatility.

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