Search results for EPD

Tenzing MEMO publishes independent research you won't find anywhere else. Sign up for a free trial to access everything — including 29 articles published in the last two weeks.

September 30, 2026

Enterprise Products Partners L.P. (EPD)

The Bond Market Repriced Enterprise Products Partners; Its Cash Flow Did Not Change

The market is not underpricing Enterprise Products Partners so much as pricing it correctly as a spread product and then marking it against a Treasury curve that has moved violently.

Read Article ›

August 01, 2026

Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners Is Compounding Its Toll Base Faster Than an 11x Multiple Admits

The consensus reading is that this is a fully-valued yield vehicle: a solid 6% payer trading at ~11x EBITDA, worth owning for income and little more. My argument is that the operating engine is compounding meaningfully faster than that framing credits, that the loudest bear ob...

Read Article ›