U.S. Shale Powers Hydrocarbon Volume Surge Across Enterprise's System in 1Q; Units Remain Cheap
Enterprise Products Partners reported very healthy results in its seasonally strong first quarter, and we’re updating our fair value estimate to $31 per unit from $30 after incorporating stronger-than-expected volumes into our model. We continued to believe the units are quite undervalued, yielding 5.9% on our 2019 distribution estimates.Investors have shunned the sector, particularly after the Federal Energy Regulatory Commission proposal in March, which we don’t see as having a material impa...
Enterprise Products Partners is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products. The company's midstream energy operations include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and export and import terminals; crude oil gathering, transportation, storage, and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals, and related services; and a marine transportation business that operates primarily on the U.S. inland and Intracoastal Waterway systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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