Enterprise Products Partners (EPD) is drawing fresh attention after co CEO A.J. “Jim” Teague announced plans to retire in January 2027, and co CEO W. Randall “Randy” Fowler is set to assume the sole CEO role.

Against that backdrop, Enterprise Products Partners’ share price is at US$36.75, with the stock posting a 14.27% year to date share price return and a 24.51% total shareholder return over 1 year. The 5 year total shareholder return of 115.62% points to momentum that has been sustained over a longer period despite some recent share price softness.

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So with Enterprise Products Partners posting solid multi year total returns and trading at US$36.75, are you looking at an undervalued midstream heavyweight here, or is the market already pricing in much of its future growth?

Most Popular Narrative: 10.9% Undervalued

Based on the most followed narrative, Enterprise Products Partners is priced below an indicated fair value of $41.25, with that view built on export driven growth and fee based cash flows.

The completion of two gas processing plants in the Permian, along with several key pipeline and export terminal projects, is expected to enhance Enterprise Products Partners’ infrastructure, potentially driving revenue growth from increased volume handling and exports.

With no major planned downtimes for the PDH plants after recent maintenance, Enterprise is poised to capture additional EBITDA that was previously lost to unplanned outages, suggesting potential earnings improvement.

Want to see what sits behind that export story? The narrative leans on measured revenue growth, firmer margins, and a higher future earnings multiple. The full breakdown shows how those ingredients combine into the $41.25 fair value.

Result: Fair Value of $41.25 (UNDERVALUED)

However, Enterprise Products Partners’ story could change if operational setbacks, such as further PDH outages, resurface or if tariffs on U.S. LPG exports move in an unfriendly direction.

Next Steps

With Enterprise Products Partners carrying both risks and potential rewards in this narrative, it makes sense to act quickly and pressure test the story against your own expectations by reviewing the 3 key rewards and 2 important warning signs.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.