BofA Securities analyst Neel Mitra maintains $Enterprise Products (EPD.US)$ with a buy rating, and adjusts the target price from $32 to $35.
According to TipRanks data, the analyst has a success rate of 77.3% and a total average return of 16.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Enterprise Products (EPD.US)$'s main analysts recently are as follows:
Enterprise Products has been highlighted as capable of preserving its market share in Permian NGL growth and is expected to increase LPG/ethane export capacity significantly with an additional investment of approximately $300M-$400M over the coming three years. Moreover, the potential for a substantial cash flow payout is on the horizon if capital expenditures decrease following the completion of this expansion phase.
The expectation is set for most companies within the U.S. Midstream sector to uphold their 2024 forecasts, amidst updates to financial models to account for fluctuations in commodity prices, effects of hurricanes, and a downturn in dry gas production. It is anticipated that the company in question will leverage its robust financial position and consistent cash flow generation to maintain financial agility. This approach will be instrumental in advancing its portfolio of growth initiatives while preserving strategic choices, exemplified by the recent acquisition announcement of Pinon.
Note:
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