Analyst Consensus ?
ConsensusBuy45 ratings
Bullish3475.6%
Neutral920.0%
Bearish24.4%
Enterprise Products Partners L.P. · EPD · FY2026 Q3 · Calendar Q4 2026
Enterprise Products raises outlook as Permian growth accelerates
Enterprise Products’ Q3 analysis supports a constructive operating case: stronger Permian gas and NGL growth, record integrated volumes, and a large organic project backlog improved the outlook. The case remains dependent on production growth, project execution, and durable demand.
Reported Before market openNYSEEnergy
$82.19B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.75
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $14.98B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.9%
Event window
SPY move
-0.6%
Same window
Abnormal move
+3.4%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
EPDSPY benchmark
Ask FN2 about EPD FY2026 Q3
Transcript, numbers and history already loaded
What drove EPD's +2.9% move after FY2026 Q3 earnings?What changed in EPD's guidance and outlook in FY2026 Q3?Give me the bull and bear case for EPD after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised its Permian wet-gas and NGL production growth forecast to 34% from 23% previously. The quarter also included record integrated pipeline movement, while management outlined a 300,000-barrel-per-day LPG export expansion and the Athena processing plant.
Guidance delta
Guidance sentiment was raised. The Permian wet-gas and NGL production growth forecast increased to 34% from 23% previously.
Key takeaways
- Q3 adjusted EBITDA grew 16% and cash flow rose 27%, according to the transcript analysis.
- Record integrated pipeline movement reached 14.8 million barrels per day equivalent in Q3.
- Management emphasized organic growth, including $6.3 billion of sanctioned projects, while maintaining capital returns and leverage within its target range.
Management priorities
- Execute the 300,000-barrel-per-day LPG export expansion at the Houston Ship Channel.
- Bring the Athena natural gas processing plant online in the Midland Basin.
- Advance the sanctioned organic growth portfolio while maintaining the distribution and buyback policy.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$39.05Current
$27Low
$35.36Average
$45High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Oct 8, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 22, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Aug 18, 2026 |
| TD Cowen | Hold | Hold | Maintain | Aug 3, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | May 12, 2026 |
| Truist Securities | Hold | Hold | Maintain | May 4, 2026 |
| Citigroup | Buy | Buy | Maintain | May 1, 2026 |
| Stifel | Buy | Buy | Maintain | Apr 29, 2026 |
| Jefferies | Hold | Hold | Maintain | Mar 31, 2026 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | Mar 25, 2026 |
| Barclays | Overweight | Overweight | Maintain | Mar 5, 2026 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jan 14, 2026 |
| Raymond James | Outperform | Strong Buy | Downgrade | Jan 5, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 11, 2025 |
| UBS | Buy | Buy | Maintain | Oct 5, 2023 |
| Tudor Pickering | Hold | Buy | Downgrade | Oct 19, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | May 12, 2022 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Apr 4, 2022 |
| TD Securities | Buy | Buy | Maintain | Apr 6, 2021 |
| SMBC Nikko | Outperform | Outperform | Maintain | Dec 3, 2020 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 9, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jul 30, 2020 |
| CFRA | Buy | Buy | Maintain | Apr 29, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 1, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Jul 17, 2019 |
| Johnson Rice | Neutral | Neutral | Maintain | May 30, 2019 |
| Goldman Sachs | Buy | Neutral | Upgrade | Apr 3, 2019 |
| Bank of America | Buy | Buy | Maintain | Oct 15, 2018 |
| B of A Securities | Buy | Buy | Maintain | Oct 15, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Apr 20, 2018 |
| Seaport Global | Neutral | Neutral | Maintain | Oct 10, 2017 |
| Guggenheim | Buy | Buy | Maintain | Apr 18, 2017 |
| Ladenburg Thalmann | Buy | Buy | Maintain | Nov 16, 2016 |
| Bernstein | Outperform | Outperform | Maintain | May 11, 2016 |
| BMO Capital | Outperform | Outperform | Maintain | Apr 19, 2016 |
| Mitsubishi UFJ | Overweight | Overweight | Maintain | Mar 31, 2016 |
| Scotia Howard Weil | Outperform | Sector Outperform | Maintain | Jan 6, 2016 |
| DA Davidson | Buy | Buy | Maintain | Jul 23, 2015 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 27, 2014 |
| Argus Research | Buy | Buy | Maintain | May 6, 2014 |
| Clarksons Platou | Outperform | Outperform | Maintain | Jul 19, 2013 |
| Wunderlich Securities | Buy | Buy | Maintain | Apr 19, 2013 |
| Wunderlich | Buy | Buy | Maintain | Apr 19, 2013 |
| Global Hunter Securities | Buy | Accumulate | Maintain | Apr 17, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $39.05. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Capital One Financial | Analyst unavailable | $42 | $38.44 | +7.6% | Sep 22, 2026 |
| Melius Research | Analyst unavailable | $42 | $38.47 | +7.6% | Sep 22, 2026 |
| Morgan Stanley | Analyst unavailable | $41 | $38.7 | +5.0% | Aug 18, 2026 |
| Morgan Stanley | Analyst unavailable | $40 | $38.73 | +2.4% | Jul 21, 2026 |
| UBS | Manav Gupta | $45 | $36.58 | +15.2% | Jun 17, 2026 |
| Goldman Sachs | John Mackay | $38 | $36.45 | -2.7% | Jun 17, 2026 |
| Morgan Stanley | Analyst unavailable | $43 | $40.06 | +10.1% | May 20, 2026 |
| Goldman Sachs | Analyst unavailable | $39 | $38.29 | -0.1% | May 14, 2026 |
| Scotiabank | Brandon Bingham | $40 | $37.9 | +2.4% | May 12, 2026 |
| Morgan Stanley | Analyst unavailable | $42 | $37.18 | +7.6% | Apr 14, 2026 |
| Scotiabank | Brandon Bingham | $37 | $35.06 | -5.2% | Feb 5, 2026 |
| RBC Capital | Analyst unavailable | $40 | $34.96 | +2.4% | Feb 4, 2026 |
| Jefferies | Julien Dumoulin-Smith | $34 | $34.63 | -12.9% | Feb 4, 2026 |
| Barclays | Analyst unavailable | $38 | $34.63 | -2.7% | Feb 4, 2026 |
| Jefferies | Analyst unavailable | $33 | $32.04 | -15.5% | Jan 12, 2026 |
| Raymond James | Justin Jenkins | $36 | $32.16 | -7.8% | Jan 5, 2026 |
| Goldman Sachs | John Mackay | $32 | $31.99 | -18.1% | Dec 19, 2025 |
| Morgan Stanley | Robert Kad | $34 | $32.01 | -12.9% | Dec 2, 2025 |
| Morgan Stanley | Analyst unavailable | $33 | $31.5 | -15.5% | Aug 26, 2025 |
| Mizuho Securities | Gabriel Moreen | $38 | $31.89 | -2.7% | Jul 11, 2025 |
| Scotiabank | Analyst unavailable | $35 | $32.75 | -10.4% | Mar 6, 2025 |
| Truist Financial | Neal Dingmann | $40 | $31.92 | +2.4% | Jan 3, 2025 |
| Bank of America Securities | Jean Ann Salisbury | $35 | $29.19 | -10.4% | Oct 17, 2024 |
| RBC Capital | Elvira Scotto | $36 | $29.17 | -7.8% | Oct 16, 2024 |
| Wells Fargo | Michael Blum | $35 | $28.86 | -10.4% | Aug 1, 2024 |
| Scotiabank | Tristan Richardson | $32 | $29.88 | -18.1% | Apr 4, 2024 |
| Mizuho Securities | Analyst unavailable | $32 | $26.13 | -18.1% | May 3, 2022 |
| Raymond James | Analyst unavailable | $31 | $25.61 | -20.6% | May 3, 2022 |
| Truist Financial | Analyst unavailable | $27 | $25.99 | -30.9% | May 2, 2022 |
| Wells Fargo | Analyst unavailable | $30 | $25.78 | -23.2% | Apr 28, 2022 |
| Morgan Stanley | Analyst unavailable | $31 | $26.06 | -20.6% | Apr 26, 2022 |
| Evercore ISI | Todd Firestone | $30 | $24.1 | -23.2% | Feb 8, 2022 |
| Morgan Stanley | Robert Kad | $27 | $22.95 | -30.9% | Jan 7, 2022 |
| TD Securities | Linda Ezergailis | $29 | $21.82 | -25.7% | Nov 3, 2021 |
| Bank of America Securities | Chase Mulvehill | $31 | $23.55 | -20.6% | Oct 19, 2021 |
| Barclays | Theresa Chen | $27 | $22.42 | -30.9% | Jul 20, 2021 |
Track every rating change on EPD the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationEnterprise Products Partners L.P. delivers essential midstream energy services, connecting both producers and consumers of diverse commodities such as natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. Its operations are structured across four distinct business segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. The NGL Pipelines & Services division focuses on natural gas processing and associated NGL marketing. This segment oversees 19 natural gas processing facilities situated across Colorado, Louisiana, Mississippi, New Mexico, Texas, and Wyoming. Furthermore, it manages an extensive network of NGL pipelines, fractionation plants, storage sites for NGLs and related products, and NGL marine export/import terminals. Within the Crude Oil Pipelines & Services segment, the company manages crude oil pipelines, along with storage and marine terminals.…
Energy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AR Antero Resources Corporation | FY2026 Q3 · Calendar Q4 2026 | +22.3% | -2.2% | Antero posts record production as margin initiatives gain traction |
| LNG Cheniere Energy, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +7.1% | Cheniere raises 2026 outlook as LNG volumes and contracts grow |
| TTE TotalEnergies SE | FY2026 Q3 · Calendar Q4 2026 | — | +1.5% | TotalEnergies posts strong Q3 as refining and LNG lead growth |
| DTM DT Midstream, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +3.7% | DT Midstream raises guidance while trimming growth capital |
| NXT Nextpower Inc. | FY2027 Q2 · Calendar Q4 2026 | +19.1% | +3.3% | Nextpower posts record Q2 and raises FY2027 outlook |
Latest beats and misses
Who reports nextBeat on EPS
- ARFY2026 Q3 · October 28, 2026+22.3% EPS-2.2% move
- INVHFY2026 Q3 · October 28, 2026+49.5% EPS-0.4% move
- AEMFY2026 Q3 · October 28, 2026+5.7% EPS-3.9% move
- ORLYFY2026 Q3 · October 28, 2026+4.3% EPS-2.7% move
- STRLFY2026 Q3 · October 28, 2026+22.3% EPS-0.4% move
- KGCFY2026 Q3 · October 28, 2026+8.7% EPS-6.1% move
Get the EPD recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-10-29T19:13:19.267034+00:00
- FN2 earnings calendar · 2026-10-29T01:23:20.584741+00:00
- Polygon adjusted daily market bars · 2026-10-29T20:00:43.905448+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-29T20:00:43.902769+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-29. For educational purposes only; not investment advice.