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Raymond James Cut Enterprise Products Partners’ Price Target

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Price targets

On October 13, 2017, Raymond James cut Enterprise Products Partners’ (EPD) price target from $33.00 to $31.00. Of the analysts surveyed by Reuters, 92% rated Enterprise Products Partners as a “buy,” and 8% rated it as a “hold.”

The consensus price target for EPD is $32.00. Its units are currently trading at $26.33. The target price implies a 22% price return from EPD’s current price.

The above graph shows how the ratings and mean price target for Enterprise Products have changed over the last 12 months.

It would be interesting to see whether the rate of the 3Q17 distribution increase would impact analysts’ ratings for Enterprise Products Partners. The company currently trades at a yield of 6.3%.

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Peer ratings

In comparison to EPD, 65% analysts rated Kinder Morgan (KMI) as a “buy,” and 82% of surveyed analysts rated EPD’s MLP peer Energy Transfer Partners (ETP) as a “buy.”

Approximately 72% of analysts rated Williams Partners (WPZ) as a “buy,” whereas only 37% of analysts surveyed rated Magellan Midstream Partners (MMP) as a “buy.”

You can read about Wall Street’s top-rated MLPs in The Top 7 MLPs According to the Analysts.

Kinder Morgan is scheduled to release its 3Q17 earnings on October 18, 2017. For an earnings preview of KMI, please read What to Look for in Kinder Morgan’s 3Q17 Results.

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