Mizuho Securities analyst Gabe Moreen has maintained their bullish stance on EPD stock, giving a Buy rating yesterday.
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Gabe Moreen has given his Buy rating due to a combination of factors including Enterprise Products Partners’ increasing focus on natural gas opportunities and its strategic maneuvering regarding capital expenditures. The company has shown interest in expanding its natural gas portfolio, which aligns with broader market trends and could potentially enhance its growth outlook. This shift could provide greater exposure to emerging opportunities and add depth to its capital expenditure backlog.
Additionally, while the commercialization of the SPOT project appears uncertain, the potential abandonment of this costly project may not negatively impact the company, as current investor sentiment favors a step-down in capital expenditures by 2026. Moreen has also highlighted the company’s robust balance sheet, which provides it with the flexibility to navigate these strategic shifts. These factors contribute to a positive outlook for Enterprise Products Partners, supporting Moreen’s Buy rating and target price.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $37.00 price target.