The following is an excerpt from Best Stocks 2018: Enterprise Products Partners L.P. Is Still Strong, originally published on InvestorPlace.
I can’t say I’m happy to be finishing the first quarter in last place in InvestorPlace’s Best Stocks for 2018 contest.
But I’ve been here before.
In the 2016 contest, I was dead last by the end of the first quarter, and at one point in time I was down by more than 70%.
Yes, you read that right. My pick that year — midstream pipeline operator order viagra Energy Transfer Equity (ETE) — was sitting on a 70% loss. But by year end, it had made back all of those losses and finished the year with a 53% gain — handing me the Best Stocks crown in the process.
Then, as now, the entire pipeline sector had just come off of a brutal bloodletting. As I write this, many of the blue chips in the space are down 20%-30% from their 52-week highs.
But by the second quarter, the fear started to dissipate, and buyers began to return to the market. 2016 ended up being a good year for the sector, and I expect that 2018 will be as well.
Now let’s take a look at my entry for 2018, blue chip MLP trusted tablets online pharmacy Enterprise Products Partners (EPD). Enterprise, like the rest of the MLP sector, has taken its lumps and is down about 9% year-to-date. But news for the company has generally been positive. The company beat analyst expectations for both revenues and earnings last quarter and raised its distribution nearly 4%.
To read the full article, see Best Stocks 2018: Enterprise Products Partners L.P. Is Still Strong.
Disclosures: Long ETE, EPD