Enterprise Prods Partners L P Stock Price, News & Analysis

Enterprise Products Partners L.P. (NYSE: EPD) has agreed to acquire Navitas Midstream Partners, LLC for $3.25 billion in cash. This debt-free transaction enhances Enterprise's presence in the Midland Basin, a key area for natural gas services, with assets including 1,750 miles of pipelines and processing capacity exceeding 1 billion cubic feet per day. With existing contracts from over 40 producers, the acquisition is projected to increase distributable cash flow per unit by $0.18 to $0.22 in 2023, boosting returns for investors.

Enterprise Products Partners L.P. (NYSE: EPD) announced a quarterly cash distribution of $0.465 per common unit for Q4 2021, reflecting a 3.3% increase from the prior year. Payments will be made on February 11, 2022 to unitholders on record by the close of business on January 31, 2022. Additionally, the company repurchased $125 million in common units during Q4, totaling $200 million for the year. The firm has consistently increased distributions for twenty-three years and will announce Q4 earnings on February 1, 2022.

Enterprise Products Partners L.P. (NYSE: EPD) has begun commercial operations on its new Gillis Lateral pipeline, enhancing its Acadian Haynesville Extension system. The 80-mile pipeline connects to key LNG export facilities and can transport up to 1 Bcf/d of natural gas. The expansion of the Acadian Haynesville Extension increases its capacity from 1.8 Bcf/d to 2.1 Bcf/d. This project aims to deliver affordable U.S. natural gas to global markets, particularly for developing nations. The Gillis Lateral is fully subscribed with long-term commitments from shippers.

Enterprise Products Partners L.P. (NYSE: EPD) announced its participation in the Wells Fargo Virtual Midstream, Utility & Renewables Symposium on December 8-9, 2021. The company’s latest investor deck can be found on its website under the Investors tab. As a leading provider of midstream energy services, Enterprise Products operates extensive assets, including approximately 50,000 miles of pipelines and 260 million barrels of storage capacity for various energy products. For more information, visit www.enterpriseproducts.com.

Intercontinental Exchange (ICE) has announced changes to its ICE Permian WTI Crude Oil futures contract, transforming it into the Midland WTI American Gulf Coast (AGC) futures contract. The update adds the Enterprise Crude Houston (ECHO) terminal as a delivery point, enhancing supply capacity to over 4 million barrels per day. This contract will facilitate better export access through 14 docks in Houston and will ultimately provide around 150 million barrels of total crude storage capacity. The changes, pending regulatory approval, will take effect in early 2022.

Enterprise Products Partners L.P. (NYSE: EPD) will host investor meetings at the RBC Capital Markets Midstream and Energy Infrastructure Conference on November 17, 2021, in Dallas, Texas. Slides from the meetings will be available at 8:00 a.m. ET on the same day via the Investors tab on the company’s website. As a leading provider of midstream energy services, Enterprise Products operates approximately 50,000 miles of pipelines and offers a variety of services, including natural gas and crude oil transportation and storage.

Enterprise Products Partners reported strong financial results for Q3 2021, with net income of $1.2 billion, or $0.52 per unit, up from $1.1 billion a year earlier. Cash flow from operations reached a record $2.4 billion, benefiting from favorable working capital changes. The company declared distributions increased by 1.1% to $0.45 per unit. However, gross operating margin fell slightly to $2.1 billion due to challenges including Hurricane Ida, yet the natural gas transportation volume hit a record high of 14.6 TBtus/d. The company retains significant liquidity with $6.7 billion available.

Enterprise Products Partners L.P. (NYSE: EPD) has declared a quarterly cash distribution of $0.45 per unit for Q3 2021, amounting to $1.80 on an annualized basis. This represents a 1.1% increase compared to the third quarter of 2020. The distribution will be paid on November 12, 2021, to unitholders of record as of October 29, 2021. Earnings for the same quarter will be announced on November 2, 2021, with a conference call to follow.

Chevron U.S.A. Inc. and Enterprise Products Partners L.P. have launched a joint framework to explore carbon capture, utilization, and storage (CCUS) opportunities in the U.S. Midcontinent and Gulf Coast regions. The initial six-month study aims to identify specific business opportunities by leveraging Enterprise's extensive midstream network alongside Chevron's sub-surface expertise. Both companies emphasize the importance of CCUS in achieving a lower carbon future, as indicated by international climate scientists. This partnership builds on their previous collaboration in energy services.