Enterprise Prods Partners L P Stock Price, News & Analysis

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.

Enterprise Products Partners L.P. (NYSE:EPD) announced a public offering of $1.0 billion in Senior Notes EEE, maturing on February 15, 2053. The notes will be issued at 99.170% of their principal amount, with a fixed interest rate of 3.30%. Proceeds from this offering will be allocated for general corporate purposes, including growth capital investments and debt repayment. The offering will be settled on September 15, 2021, with Citigroup, Deutsche Bank, SG Americas, and U.S. Bancorp acting as joint book-running managers.

Enterprise Products Partners L.P. (NYSE: EPD) will host virtual investor meetings at the Barclays CEO Energy–Power Conference on September 8, 2021. The latest investor deck, available under the Investors tab on the Enterprise website, will support these discussions. Enterprise Products is a major provider of midstream energy services in North America, offering services in natural gas, NGLs, crude oil, and petrochemicals. Its extensive infrastructure includes 50,000 miles of pipelines and significant storage capacities across various energy products.

Enterprise Products Partners L.P. (NYSE: EPD) has appointed Carrie L. Weaver as vice president of Commercial, Evolutionary Technology, reporting to Co-CEO A.J. Teague. The Evolutionary Technology team aims to innovate in energy sectors like carbon capture and hydrogen. Weaver's role is to turn emerging ideas into profitable market solutions, leveraging Enterprise's extensive midstream network. Teague emphasized the company's commitment to leading in the evolving energy landscape through reliable service and innovative projects.