Hi All, I am a recent purchaser of EPD because it seems to be in...

Hi All,

I am a recent purchaser of EPD because it seems to be in a bit of a sweet spot and the recent acquisition looks to give it a nice growth kick. The dividend growth is also attractive and on the chart it looks to be trending upwards.

The one question I have about this stock is that it seems to be using new share issues to fund its acquisitions and in the last 2 or 3 years, despite its significant growth in the size of the business as well as an increase in NPAT, it has not managed to lift its EPS. The impact of this is that its PE ratio is highand I imagine dividends will not be able to be increased, unless the EPS can be increased - not just as a one-off but as an ongoing improvement in business performance.

So - can I ask - can anyone provide comment - is my observation correct? Is EPD having trouble lifting its EPS?
Is there any perspective that the recent acquisition will be any different to the prior acquisitions?

Thanks in advance.

Gosouth