Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Enterprise Products Partners / Equity Bottom-Up

<ul><li>Enterprise Products Partners L.P., based on its first quarter 2024 earnings, seems to have continued its consistent delivery, with a 7% increase in gross operating margin compared to the first quarter of last year.</li><li>This growth was primarily driven by contributions from new assets and a 17% increase in net marine terminal volumes.</li><li>Positive developments within the company include the expansion of their Permian natural gas processing infrastructure and the start of their Leonidas plant in the Midland Basin and Mentone 3 plant in the Delaware Basin.</li></ul>

Enterprise Products Partners L.P., based on its first quarter 2024 earnings, seems to have continued its consistent delivery, with a 7% increase in gross operating margin compared to the first quarter of last year.This growth was primarily driven by contributions from new assets and a 17% increase in net marine terminal volumes.Positive developments within the company include the expansion of their Permian natural gas processing infrastructure and the start of their Leonidas plant in the Midland Basin and Mentone 3 plant in the Delaware Basin.

Enterprise Products Partners L.P.: A Versatile Hub In Hydrocarbon Distribution With Strategic Market Footholds! - Major Drivers

<ul><li>Enterprise Products Partners L.P. displayed robust financial and operational achievements in 2023.</li><li>The company's distributable cash flow touched $7.6 billion, contributing to a 1.7x coverage and retained $3.2 billion.</li><li>The year 2023 saw Enterprise products set nine financial records and thirteen operating records.</li></ul>

Enterprise Products Partners L.P. displayed robust financial and operational achievements in 2023.The company's distributable cash flow touched $7.6 billion, contributing to a 1.7x coverage and retained $3.2 billion.The year 2023 saw Enterprise products set nine financial records and thirteen operating records.

Enterprise Products Partners L.P.: Is There A Potential Increase in Bahia's Volumes That Could Drive Growth? - Key Drivers

<ul><li>Enterprise Products Partners delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the analyst consensus regarding earnings.</li><li>Navigating through low natural gas and NGL prices, Enterprise achieved significant volumes in its midstream system, transporting 12.2 million barrels of crude oil equivalent per day.</li><li>Improved quality in the Eagle Ford crude oil system facilitated sales and enhanced crude prices.</li></ul>

Enterprise Products Partners delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the analyst consensus regarding earnings.Navigating through low natural gas and NGL prices, Enterprise achieved significant volumes in its midstream system, transporting 12.2 million barrels of crude oil equivalent per day.Improved quality in the Eagle Ford crude oil system facilitated sales and enhanced crude prices.

Enterprise Products Partners L.P.: Navigating Market Challenges with a Strong Strategy! - Major Drivers

<ul><li>Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall Street.</li><li>Despite challenging market conditions with lower prices for various energy products, Enterprise Products Partners delivered a resilient financial performance in the year's second quarter.</li><li>Furthermore, Enterprise Products Partners achieved several operational momentums during the quarter, underscoring its operational excellence and commitment to delivering value to its stakeholders.</li></ul>

Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall Street.Despite challenging market conditions with lower prices for various energy products, Enterprise Products Partners delivered a resilient financial performance in the year's second quarter.Furthermore, Enterprise Products Partners achieved several operational momentums during the quarter, underscoring its operational excellence and commitment to delivering value to its stakeholders.

Enterprise Products Partners L.P.: Overcoming Low Prices & Still Delivering! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.</li>
<li>This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.</li>
<li>We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass</li>
</ul>


Mega-Cap growth names such as AMZN, TSLA, MSFT, GOOGL, and META have picked up the slack as semiconductors (SMH, SOXX, NVDA, AVGO, etc.) are simply consolidating after getting extended.
This was a possibility we discussed in last week's Compass (6/25/24), which means we are not seeing any lasting rotation away from large-cap growth.
We remain bullish on all names listed (including the semiconductors), and we continue to recommend an overweight to large-cap growth (relative to value) as initially discussed in our 5/29/24 Compass


Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

United States

Enterprise Products Partners, L.P. provides processing and transportation services to producers and consumers of natural gas liquids. The Company generally processes products that are ultimately used as feedstocks in petrochemical manufacturing in the production of motor gasoline, and as fuel for residential and commercial heating.

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Enterprise Products Partners (EPD US)

Enterprise Products Partners L.P.: A Versatile Hub In Hydrocarbon Distribution With Strategic Market Footholds! - Major Drivers

Enterprise Products Partners L.P., based on its first quarter 2024 earnings, seems to have continued its consistent delivery, with a 7% increase...

Baptista Research

Enterprise Products Partners L.P.: Is There A Potential Increase in Bahia's Volumes That Could Drive Growth? - Key Drivers

Enterprise Products Partners L.P. displayed robust financial and operational achievements in 2023. The company's distributable cash flow touched...

Baptista Research

Enterprise Products Partners L.P.: Navigating Market Challenges with a Strong Strategy! - Major Drivers

Enterprise Products Partners delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the...

Baptista Research

Enterprise Products Partners L.P.: Overcoming Low Prices & Still Delivering! - Major Drivers

Enterprise Products Partners' results were a major disappointment as it failed to meet the revenue as well as the earnings expectations of Wall...

Baptista Research

Remain Overweight Large-Cap Growth; Downgrading Materials to Underweight; Software Buys $MSTR $CRWD

Remain Overweight Large-Cap Growth $IWF as discussed 5/29/24; Downgrading Materials $XLB to Underweight; Buy/Stay Long Software Stocks $IGV $MSFT...

Vermilion Research

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