Will Enterprise Products Partners Gain Upward Momentum?
EPD’s moving averages
Enterprise Products Partners (EPD) stock surpassed its 200-day moving average on March 12. Its 50-day moving average surpassed its 200-day average at the end of January 2018. Both are considered bullish indicators. They indicate that EPD stock may remain strong in the near term.
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EPD’s year-to-date performance
Enterprise Products Partners stock is down 2% year-to-date. In comparison, Plains All American Pipeline (PAA) is up 9% and Kinder Morgan (KMI) is down 12%. The Alerian MLP ETF (AMLP) is down ~6% year-to-date. The above graph compares EPD’s year-to-date performance with its peers’.
100% of analysts surveyed by Reuters rate Enterprise Products Partners a “buy.” EPD’s mean price target is $31.8. Its units are trading at $26.33. If EPD attains its mean price target in a year, it would imply an upside of 21%.
In comparison, 52% of analysts rate Plains All American Pipeline a “buy” and 55% rate Kinder Morgan a “buy.”
In this series
Expected growth in the demand for natural gas, growth in oil, LPG, and other exports, and EPD’s capital projects are expected to drive growth for the MLP. In this series, we’ll take a closer look at EPD’s Permian operations and why they’re a key focus for the company.