Enterprise Prods Partners L P Stock Price, News & Analysis

Enterprise Products Partners L.P. (NYSE: EPD) reported a net income of $4.6 billion for 2021, up from $3.8 billion in 2020, with a fully diluted EPS rising to $2.10. Distributable cash flow (DCF) increased to $6.6 billion, covering distributions at 1.7 times. Despite facing non-cash asset impairment charges of $233 million, the company achieved record gross operating margins across three segments. The fourth quarter saw operational records in natural gas transportation and ethylene exports. Noteworthy, Enterprise plans to acquire Navitas Midstream to enhance its natural gas processing capabilities.

Intercontinental Exchange (NYSE: ICE), Magellan Midstream Partners (NYSE: MMP), and Enterprise Products Partners (NYSE: EPD) announced the launch of the Midland WTI American Gulf Coast futures contract, set to commence trading on January 24. This contract allows delivery at both the Magellan East Houston and Enterprise Crude Houston terminals, supported by a combined capacity of over 4 million barrels daily. To enhance trading flexibility, the companies will waive the related pump over fee during the first year, which is a significant step toward establishing the U.S. Gulf Coast as a benchmark for crude oil pricing.

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.