Enterprise Products price target lowered to $21 from $31 at Citi » 06:4607/0207/02/20
Citi analyst Timm…
Citi analyst Timm Schneider lowered the firm's price target on Enterprise Products to $21 from $31 and keeps a Buy rating on the shares. The analyst continues to view Enterprise Products as a core holding in the current environment, given its "pristine balance sheet and diversified business model."
Enterprise Products enters into long-term agreement for PDH 2 facility » 05:3506/3006/30/20
Enterprise Products announced that one of its affiliates has executed a long-term agreement with Marubeni Corporation to supply polymer grade propylene, or PGP, from the partnership's second propane dehydrogenation plant, or PDH 2, which is currently under construction. Enterprise Products said in a release, "Marubeni Corporation is a major Japanese integrated trading and investment business conglomerate and the world's largest olefins trader. PDH 2 will have the capacity to upgrade 35,000 barrels per day of propane into 1.65 billion pounds per year (25,000 BPD) of PGP. PDH 2 is being built at Enterprise's complex near Mont Belvieu, Texas. The facility is expected to begin service in the second quarter of 2023. Upon completion, Enterprise will have total capacity to produce up to 11 billion pounds per year of PGP, the largest PGP production complex in the world. This complex has the capability to produce approximately 8 billion pounds per year of PGP from its seven propylene fractionators and 3 billion pounds of PGP per year from its two PDH facilities. These plants, using two processes, provide operational flexibility and reliability."
|Over a week ago|
Enterprise Products ramps up ethylene exports » 17:0306/1706/17/20
Enterprise Products' (EPD) ethylene export terminal at Morgan's Point, Texas, a joint venture with Navigator Holdings (NVGS), has exceeded design interim loading capacity and expects to export more than 175 million pounds for the month of June. The terminal is in the process of loading a record-sized ethylene cargo of 44 million pounds on the Navigator Eclipse. The partnership expects to complete the construction of an aboveground ethylene storage tank, which will bring the total loading capacity of the marine terminal to 2.2 billion pounds per year, by the end of 2020. Enterprise's high-capacity ethylene storage hub and pipeline system is expected to complete three additional connections by the end of 2020, linking its system to a majority of ethylene production capacity in Texas.
|Over a month ago|
Unusually active option classes on open June 3rd » 09:4006/0306/03/20
CPB, CLDR, NIO, LRCX, QCOM, EPD, SAVE, MGM, CLF, NOK
Unusual total active…
Unusual total active option classes on open include: Campbell Soup (CPB), Cloudera (CLDR), NIO (NIO), Lam Research (LRCX), Qualcomm (QCOM), Enterprise Products (EPD), Spirit Airlines (SAVE), MGM Resorts (MGM), Cleveland-Cliffs (CLF), and Nokia (NOK).
Enterprise Products files to sell 54.8M common units for holders 17:0205/1105/11/20
Enterprise Products lowers 2020 CapEx view by $1B to $2.5B-$3.0B » 06:1504/2904/29/20
For 2020, Enterprise…
For 2020, Enterprise Products currently expects to reduce growth capital investments by approximately $1B to $2.5B-$3.0B compared to previous guidance. The company expects sustaining capital expenditures for 2020 will be $100M lower compared to previous guidance to $300M. Expects growth capital investments for 2021 and 2022 to be approximately $2.5B and $1.5B, respectively. The company does not expect to receive governmental approvals for SPOT during 2020.
Enterprise Products reports Q1 EPS 61c, consensus 52c » 06:1304/2904/29/20
Reports Q1 revenue…
Reports Q1 revenue $7.48B, consensus $8.25B. Q1 cash flow from operations was $2.0B vs. $1.2B for 1Q19.
Enterprise Products downgraded to Peer Perform from Outperform at Wolfe Research » 09:3204/1304/13/20
Wolfe Research analyst…
Wolfe Research analyst Keith Stanley downgraded Enterprise Products to Peer Perform from Outperform with a price target of $17, down from $18. Enterprise Products was "built for rising U.S. shale supply and exports," but the "game has changed" due to the COVID-19 demand shock, Stanley tells investors.
Enterprise Products price target lowered to $24 from $35 at Mizuho » 06:4704/0704/07/20
Mizuho analyst Gabriel…
Mizuho analyst Gabriel Moreen lowered the firm's price target on Enterprise Products to $24 from $35 and keeps a Buy rating on the shares. The company's outlook is sensitive to the U.S. production slowdown but its fundamentals remain on "solid footing," says the analyst.
|Over a quarter ago|
Enterprise Products put volume heavy and directionally bearish » 11:3504/0204/02/20
Bearish flow noted in…
Bearish flow noted in Enterprise Products with 9,040 puts trading, or 4x expected. Most active are Apr-20 11 puts and Apr-20 16.5 calls, with total volume in those strikes near 8,300 contracts. The Put/Call Ratio is 2.70, while ATM IV is up nearly 15 points on the day. Earnings are expected on April 29th.