Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.22, read 2026-11-01
Ethical does not pass the values gate
Price37.03 USD
Fair value33.91
Ethical score70.0/100
Value readFairas of 6 Nov 2026
Our investment reviews on this name
2026-11-05Read Markup36.71+0.9% to today ✓Distribution gives way to Markup first Markup read since August
2026-10-11Read Distribution35.67+3.8% to today Markdown gives way to Distribution first Distribution read since July
2026-10-02Read Markdown35.67+3.8% to today Markup gives way to Markdown after a 7% slide in 5 weeks
2026-08-28Read Markup38.27-3.2% to today Distribution gives way to Markup with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Enterprise Products Partners L P holds its Distribution at $37.03. Consolidating, no directional conviction, held for 348 days.
As held on the ledger · 2026-11-06
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 348 days
Price at the screen
$37.03
Valuation
12.38 trailing · 11.81 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.46
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
44.64%
Below 33%
Interest-bearing debt is 44.6% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
9.58%
Below 49%
Money owed to the company is 9.6% of assets, under the 49% limit.
Pass
Revenue purity
0.07%
Below 5%
Only 0.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Enterprise Products Partners L P's business is in a permissible area, but its interest-bearing debt is about 45% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today EPD does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 6 Nov 2026: it trades above our $33.91 fair value estimate, narrow competitive moat, 49.30% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 9.2% above the base estimate.
Third-party analyst targets: 21 covering, consensus Buy. The average target sits +11% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $33.91, with a range of $33.91 to $39.00, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Midstream tolls hide cyclical earnings traps
Picture a network of pipes and storage tanks moving US oil and gas every day. Enterprise Products Partners sits in the middle, collecting fees regardless of who owns the molecules. Yet revenue fell 7 percent last year and the shares trade above our $34 fair value at $38.20, giving no margin of safety.
The 12.2 times forward earnings multiple looks modest next to a 20 percent ROE and a narrow moat. In a cyclical midstream business, however, that low multiple often signals peak volumes rather than a bargain. Analyst targets at $42 assume the good times stretch on, which is exactly the trap to avoid.
Energy prices and throughput can swing sharply, squeezing cash flows even when the ethical screen is passed. The narrow moat offers little protection when producers cut drilling or shift routes. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EPD trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup · changed$36.71-1.0%Entry 24
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41.
2026-10-29Distribution$37.08+0.8%Entry 23
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Distribution$36.80+0.0%Entry 22
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Distribution$36.80+0.0%Entry 21
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Distribution$36.80+0.0%Entry 20
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Distribution$36.80+0.0%Entry 19
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Distribution$36.80+0.0%Entry 18
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Distribution$36.80+0.0%Entry 17
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Distribution$36.80+2.1%Entry 16
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 2.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Distribution$36.04+1.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 14% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 27%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (20 analysts) rates it buy, with a mean price target of $41.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
