Enterprise Prods Partners L P Stock Price, News & Analysis

Enterprise Products Partners (EPD) reported record financial results for 2024, with net income reaching $5.9 billion ($2.69 per unit), up 7% from 2023. The company achieved record Distributable Cash Flow (DCF) of $7.8 billion and increased distributions by 5% to $2.10 per unit annualized, marking its 26th consecutive year of distribution growth.

The company reported strong operational performance with record volumes across its midstream system, including natural gas processing inlet volumes of 7.4 Bcf/d (up 10%), total equivalent pipeline volumes of 12.9 million BPD (up 6%), and marine terminal volumes of 2.2 million BPD (up 6%). Total capital investments were $5.5 billion in 2024, including $3.9 billion for growth projects.

Enterprise has approximately $7.6 billion of major growth capital projects under construction, with $6 billion expected to be completed in 2025. The company maintained strong financial flexibility with consolidated liquidity of $4.8 billion at year-end.

ICE announced that Enterprise Products Partners and ONEOK have extended their fee waiver arrangement for crude oil transfers between ECHO and MEH terminals for ICE Midland WTI futures contract (HOU) deliveries until December 31, 2028. The extension comes as physical deliveries of ICE Midland WTI were double that of Cushing WTI in 2024.

The arrangement allows buyers to transfer crude oil between terminals at no cost if their preferred delivery terminal wasn't selected. Over 82 million barrels were delivered through HOU's exchange delivery mechanism in 2024, with 5.5 million HOU futures traded and average daily volume of 21,000 contracts.

Notable developments include Continental Resources switching part of its Permian production pricing to HOU, and Platts launching a daily price assessment of Midland WTI crude as a differential to HOU. ICE achieved record trading volumes with 1 billion energy derivatives contracts in 2024, including 655 million oil futures and options contracts.

Enterprise Products Partners (NYSE: EPD) has declared a quarterly cash distribution of $0.535 per unit for Q4 2024, equivalent to $2.14 annually, representing a 3.9% increase from Q4 2023. The distribution will be paid on February 14, 2025, to unitholders of record as of January 31, 2025.

The company repurchased $63 million of common units during Q4 2024, bringing the total 2024 repurchases to $219 million. EPD has now utilized approximately 57% of its authorized $2.0 billion buyback program. The company will announce Q4 2024 earnings on February 4, 2025, before NYSE trading opens, followed by an analyst conference call.

Enterprise Products Partners (NYSE: EPD) has announced its participation in two upcoming investor conferences in New York City. The company will attend the Mizuho Power, Energy & Infrastructure Conference on December 9, 2024, and the Wells Fargo 23rd Annual Midstream, Energy & Utilities Symposium on December 10-11, 2024.

As one of North America's largest midstream energy service providers, EPD operates extensive infrastructure including over 50,000 miles of pipelines, 300+ million barrels of storage capacity for various products, and 14 billion cubic feet of natural gas storage capacity. Their services span natural gas, NGLs, crude oil, refined products, and petrochemicals, including gathering, processing, transportation, storage, and marine operations.

Enterprise Products Partners (NYSE: EPD) has announced its participation in the BofA Securities 2024 Global Energy Conference scheduled for Tuesday, November 12, 2024, in Houston, TX. The company has made its latest investor presentation deck available on its website under the Investors tab.

As one of the largest publicly traded partnerships, EPD is a leading North American midstream energy service provider, operating over 50,000 miles of pipelines, more than 300 million barrels of storage capacity, and 14 billion cubic feet of natural gas storage capacity. Their services span natural gas, NGLs, crude oil, refined products, and petrochemicals, including gathering, processing, transportation, storage, and marine terminal operations.

Enterprise Products Partners (NYSE: EPD) has completed Phase 2 of its Texas Western Products system with the opening of a refined products truck terminal in Grand County, Utah. The new facility features 400,000 barrels of storage capacity for gasoline and diesel, with a loading capacity of 20,000 barrels per day. Located with direct access to Interstate 70, it serves markets in eastern Utah and western Colorado. This terminal joins three other facilities opened in 2024 in Texas and New Mexico, bringing the total system capacity to 1.5 million barrels of storage and 63,000 BPD loading capability.

Enterprise Products Partners (EPD) reported strong Q3 2024 financial results with net income of $1.4 billion ($0.65 per unit), up 8% from Q3 2023. Distributable Cash Flow increased 5% to $2.0 billion, with distributions rising 5% to $0.525 per unit. The company achieved record volumes including 7.5 Bcf/d of natural gas processing and 12.8 million BPD of total equivalent pipeline volumes.

Total capital investments were $1.2 billion in Q3, with $1.1 billion for growth projects. Enterprise updated its 2025 organic growth capital investment range to $3.5-4.0 billion, reflecting new opportunities in the Permian Basin following the Piñon Midstream acquisition.

Enterprise Products Partners (NYSE: EPD) has completed its acquisition of Piñon Midstream for $950 million in a debt-free cash transaction. The acquisition expands Enterprise's footprint in the eastern Delaware Basin of Texas and New Mexico, adding natural gas gathering and treating services to its portfolio. This strategic move enhances Enterprise's position as a leading North American midstream energy services provider, complementing its extensive infrastructure network that includes over 50,000 miles of pipelines, 300 million barrels of storage capacity, and 14 billion cubic feet of natural gas storage capacity.

1PointFive and Enterprise Products Partners (NYSE: EPD) have announced an agreement to develop a carbon dioxide transportation network supporting the Bluebonnet Sequestration Hub in southeast Texas. Under the Transportation Services Agreement, Enterprise will develop a new pipeline network co-located with existing infrastructure to transport CO2 emissions from facilities near the Houston Ship Channel to the sequestration hub. The project recently received funding from the U.S. Department of Energy. The partnership combines 1PointFive's CO2 management expertise with Enterprise's midstream experience to provide decarbonization solutions for industrial customers.