Truist analyst Neal Dingmann lowered the firm’s price target on Enterprise Products to $31 from $33 but keeps a Buy rating on the shares. The company reported continued record liquids pipeline, natural gas pipeline, NGL fractionators, and marine terminals volumes that enabled it to hit Q3 estimates, the analyst tells investors in a research note. The firm adds however that it was surprised by the announced $3B of incremental organic NGL Permian growth projects, stating that it continues to prefer more short term unit repurchases.
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