Stifel Reaffirms Buy Rating on Enterprise Products Partners (EPD) with $35 Price Target

Core Viewpoint - Enterprise Products Partners L.P. (NYSE:EPD) is recognized as a strong investment opportunity in the energy infrastructure sector, despite facing some short-term operational challenges [2][4]. Group 1: Company Overview - Enterprise Products Partners L.P. is one of the largest midstream oil and gas companies in North America, operating pipelines that function like a toll system to transport energy products [2][3]. - The company has a significant role in connecting upstream production with downstream refining and chemical processing [2]. Group 2: Analyst Ratings and Price Target - Stifel has reaffirmed its Buy rating on EPD with a price target of $35, indicating confidence in the company's long-term prospects [3][4]. - The firm has adjusted its operational forecasts due to lower-than-expected utilization at propane dehydrogenation plants and a decline in crude oil export volumes [3]. Group 3: Recent Developments - EPD recently completed a $580 million acquisition of Midland gathering assets, which is seen as a strategic expansion of its midstream operations [3]. - On October 8, EPD declared a quarterly dividend of $0.545 per share, maintaining its long-standing record of increasing dividends for 27 consecutive years, resulting in a dividend yield of 7.08% as of October 14 [5].