Enterprise Products Partners L.P has received a credit rating of ‘BBB+’ from Morningstar.
The BBB+ rating was given as the company is a moderate default risk. Additionally, Morningstar also awarded their stock a four star rating.
Similarly, financial institution Morgan Stanley increased Enterprise’s rating from an equal weight to overweight. As a result, this allowed for a US$27 target on the company’s stock.
Enterprise also reported its 4Q15 share earnings on 28 January, which met Thomson Reuters’ target estimate of US$0.34.
Enterprise’s 4Q14 earnings per share were US$0.36.
The company earned US$6.16 billion during the quarter, in comparison to the US$7.74 billion estimate. As a result, Enterprise’s revenue decreased by 39.6% in 4Q15 from the previous 2015 quarter.
It has been predicted that the company shall post US$1.38 earnings per share in 2016.
Edited from various sources by Stephanie Roker
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