Key projects to come online

Enterprise Products Partners (EPD) spent $1 billion on capital projects in 3Q17. In the first nine months of 2017, EPD spent $2.3 billion on capital projects, and the company expects its total 2017 capital expenditures to be in the range of $2.9 billion–$3.1 billion.

EPD recently completed the construction of the pipeline portion of its Midland-to-Sealy crude oil pipeline. The pipeline is expected to start limited service in this month, with full service expected in 2Q18.

Reading Enterprise Products’ Capital Spending in 3Q17

Enterprise Products’ PDH (propane dehydrogenation) facility is also expected to start initial production this month. (Learn more about these projects in EPD’s Key Projects That Will Become Operational in 4Q17.)

Analyst recommendations

As the above graph shows, of the analysts surveyed by Reuters, 92% rated Enterprise Products Partners as a “buy,” and 8% rated the company as a “hold.” The median target price for Enterprise Products Partners is $31.5.

Currently, EPD’s shares are trading near $24.55. If Enterprise Products Partners reaches its target price within a year, it would mean 28% upside for investors.

Notably, small-cap MLPs (master limited partnerships) Emerge Energy Services (EMES) and Hi-Crush Partners (HCLP) reported their 3Q17 results recently. You can learn about how they fared in Market Realist’s series Emerge Energy Services Reported Strong 3Q17 Results and Hi-Crush Partners’ Earnings Continued to Rise in 3Q17.

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