Core Insights - Enterprise Products Partners LP (EPD) stock declined by 2.1% over the past month, underperforming the industry average decline of 3.6% [1][7] - EPD's significant reliance on the Permian region raises concerns about its future commodity mix, which may shift towards less profitable natural gas [4][5][7] - The company has substantial debt obligations amounting to $33.1 billion, resulting in a debt-to-capitalization ratio of 52.3%, which is lower than Kinder Morgan's 50.5% but higher than Enbridge's 59.7% [6][9] Financial Performance - EPD's trailing 12-month enterprise value to EBITDA (EV/EBITDA) ratio is 10.10X, which is below the industry average of 10.44X, indicating that investors are not willing to pay a premium for the stock [10] - The company plans to invest between $4 billion and $4.5 billion annually in growth projects, which adds to its financial obligations [9][11] Investment Considerations - Given the heavy dependence on the Permian region and significant financial obligations, it may be prudent for investors to avoid EPD despite its stable fee-based revenue generation [11]