Enterprise Products Raises Price Target to $34 After Record Q4 Gas and NGL Volumes
Enterprise Products raised its price target to $34 from $33 following record Q4 natural gas inlet volumes of 8.1 Bcf/d and NGL fractionation of 1.9 million barrels per day, boosting NGL margins. The company reported net income of $5.8 billion, increased distributions 3.6% to $2.175 and repurchased $300 million.
1. Price Target Revision
TD Cowen lifted its price target on Enterprise Products to $34 from $33, reflecting confidence in the company’s midstream operations and recent operational performance.
2. Record Q4 Volumes and Margins
Enterprise Products achieved record natural gas inlet volumes of 8.1 Bcf/d and NGL fractionation throughput of 1.9 million barrels per day in Q4, driving higher gross operating margins in the NGL segment.
3. Financial Results
For full-year 2025, the company reported net income of $5.8 billion and operational distributable cash flow of $7.9 billion. Adjusted cash flow from operations rose to $8.7 billion, up from $8.6 billion a year earlier.
4. Capital Returns
Enterprise Products increased its quarterly distribution by 3.6% to $2.175 per unit, marking 27 years of consecutive growth, and repurchased $300 million of common units, bringing total buybacks to $1.4 billion.