Hi All,Ok, looks like I was spot on with the fin. analysis,...

Hi All,

Ok, looks like I was spot on with the fin. analysis, outstanding H1 results.... even better than expected!

so here's my updated view and valuation on EPD:

H1 forecast: 5.0c
H1 actual: 4.82c

H2 forecast: 3c (reduction due to no JobKeeper payments in H2)
updated H2 forecast: 3.4c (revised upwards based on the company guidance)

Annual forecast: 8c
updated annual forecast: 8.22c

Dividend forecast:
H1: 1.5c (as I originally anticipated)
H2: 1c (keeping my initial forecast)
FY21: 2.5c

Valuations:

DCF: $1.56
P/E relative: $1.64 (20x PE - forward FY21 peer average)
Dividend discount: $1.24

Valuation average: $1.24, so trading at 38% discount to it's new value.

Won't be surprised if the company has been propped up for sale - the financials look outstanding.

Do your own research, this is not a recommendation, but an opinion.