Stronger-Than-Expected Results Lead Goldman Sachs to Raise Target on Enterprise Products Partners (EPD)

With an annual dividend yield of 5.61%, Enterprise Products Partners L.P. (NYSE:EPD) is included among the 10 Best Dividend Stocks with 5%+ Yields and Growing Cash Flows.

Stronger-Than-Expected Results Lead Goldman Sachs to Raise Target on Enterprise Products Partners (EPD)

On May 14, Goldman Sachs raised its price recommendation on Enterprise Products Partners L.P. (NYSE:EPD) to $39 from $37. It reiterated a Neutral rating on the shares. The firm said Enterprise Products delivered a stronger-than-expected quarter, supported by strength in gas marketing. Analysts also pointed to more constructive long-term commentary around US energy export demand and global supply dynamics. The research note added that investors are still weighing the company’s previously conservative guidance, geopolitical support for pricing, and the possibility of additional upside from future optimization efforts and macro-driven pricing improvements.

On May 12, Scotiabank analyst Brandon Bingham raised the firm’s price goal on EPD to $40 from $39. It maintained a Sector Perform rating on the shares. The analyst said the Q1 reporting season highlighted the ability of midstream companies to generate outsized earnings during periods of market turbulence and disruption.

Enterprise Products Partners L.P. (NYSE:EPD) provides midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, refined products, and petrochemicals.

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