Enterprise Prods Partners L P Stock Price, News & Analysis

Enterprise Products Partners L.P. (NYSE: EPD) has announced its participation in two upcoming investor conferences. The company will attend the MUFG Energy Conference in New York City on September 5, 2024, and the NYSE Virtual Investor Access event on September 10, 2024. Investors can access the latest investor deck on the Enterprise website under the Investors tab.

Enterprise Products Partners is a leading North American provider of midstream energy services, with extensive assets 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. The company offers services in natural gas, NGLs, crude oil, refined products, and petrochemicals, as well as marine transportation on key U.S. waterways.

Enterprise Products Partners L.P. (NYSE: EPD) has announced a definitive agreement to acquire Piñon Midstream, a natural gas gathering and treating services provider in the Delaware Basin, for $950 million in cash. The acquisition includes:

- 50 miles of natural gas pipelines
- Five 3-stage compressor stations
- 270 MMcf/d of treating facilities, expanding to 450 MMcf/d by 2025
- Two high-capacity acid gas injection wells

Enterprise expects this acquisition to generate $0.03 per unit in distributable cash flow accretion in 2025. The transaction is set to close in Q4 2024, subject to regulatory approvals.

Enterprise Products Partners L.P. (NYSE: EPD) has announced its participation in the Citi One-on-One Midstream & New Energy Infrastructure Conference on August 13-14, 2024, in Las Vegas. The company's latest investor deck will be available on its website. Enterprise Products Partners is a leading North American provider of midstream energy services, offering natural gas, NGL, crude oil, and petrochemical services.

The partnership's extensive assets include 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. As one of the largest publicly traded partnerships, Enterprise Products Partners plays a important role in the energy infrastructure sector.

Enterprise Products Partners L.P. (NYSE:EPD) has announced that its operating subsidiary, Enterprise Products Operating , has priced a $2.5 billion public offering of senior notes. The offering comprises:

1. $1.1 billion of senior notes due February 15, 2035, with a 4.95% fixed-rate interest coupon
2. $1.4 billion of senior notes due February 16, 2055, with a 5.55% fixed-rate interest coupon

The proceeds will be used for general company purposes, growth capital investments, and debt repayment, including the potential full repayment of $1.15 billion 3.75% Senior Notes due in February 2025. The settlement is expected on August 8, 2024, subject to customary closing conditions. Enterprise Products Partners L.P. will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis.

Enterprise Products Partners L.P. (NYSE: EPD) has announced a significant expansion project along the Houston Ship Channel to meet growing customer demand for natural gas liquids (NGL) export capacity. The company is increasing refrigeration capacity at its Enterprise Hydrocarbons Terminal (EHT), which will boost propane and butane export capabilities by approximately 300,000 barrels per day (BPD). This expansion, set to be operational by the end of 2026, will also enhance loading rates and create additional capacity for propylene exports.

Additionally, Enterprise is developing the Neches River Terminal (NRT) in Orange County, Texas. Phase 1 of NRT, expected to begin service in the second half of 2025, includes a new loading dock, an ethane refrigeration train with 120,000 BPD capacity, and a 900,000-barrel refrigerated tank. Phase 2, slated for the first half of 2026, will further increase ethane and propane loading capabilities.

Enterprise Products Partners (NYSE: EPD) reported a strong Q2 2024 financial performance, with net income of $1.4 billion or $0.64 per unit, up 12% compared to Q2 2023. The distributable cash flow (DCF) was $1.8 billion, covering distribution 1.6 times, and a 5% increase in distribution to $0.525 per unit.

Enterprise repurchased $40 million of common units, utilizing 50% of its $2 billion buyback program. The Adjusted Cash Flow from Operations (CFFO) was $2.1 billion, up from $1.9 billion in Q2 2023. The partnership expects organic growth capital investments of $3.5-$3.75 billion in 2024 and $3.25-$3.75 billion in 2025.

Enterprise handled record volumes in several segments, including 12.6 million BPD of equivalent pipeline volumes and 2.2 million BPD of marine terminal volumes. Total capital investments reached $1.3 billion, including $1.0 billion for growth projects. The company also completed significant turnarounds at its PDH 1 facility, which is expected to enhance reliability and utilization rates.

Enterprise Products Partners (NYSE: EPD) declared a quarterly cash distribution of $0.525 per unit for Q2 2024, translating to $2.10 per unit annually. This is a 5% increase over the previous year's Q2 distribution. The distribution will be paid on August 14, 2024, to unitholders of record as of July 31, 2024.

Additionally, Enterprise repurchased $40 million worth of common units in Q2 2024, utilizing 50% of its $2 billion buyback program. The company will announce its Q2 2024 earnings on July 30, 2024, followed by a conference call at 9 a.m. CDT.

Enterprise Products Partners operates over 50,000 miles of pipelines and substantial storage capacities for various energy products. The press release also includes a qualified notice regarding tax withholding for non-U.S. unitholders.

Enterprise Products Partners L.P. (NYSE: EPD) announced the availability of its 2023 Schedule K-3 forms online, which include items of international tax relevance. This information is important for a number of foreign unitholders, those computing a foreign tax credit, and certain corporate and partnership unitholders. The form is not being mailed to investors; instead, it can be accessed at www.taxpackagesupport.com/enterprise. Investors needing an electronic copy can request one via the provided toll-free number. Enterprise Products Partners is a leading North American provider of midstream energy services, managing extensive assets that include over 50,000 miles of pipelines and substantial storage capacities for various energy products.

Enterprise Products Partners L.P. (NYSE: EPD) will participate in the J.P. Morgan Energy, Power, and Renewables Conference on June 17-18, 2024, in New York City. Enterprise is a leading North American provider of midstream energy services, including natural gas gathering, treating, processing, transportation, and storage. The company also handles NGLs, crude oil, refined products, and petrochemicals. Their assets include over 50,000 miles of pipelines, 300 million barrels of storage capacity, and 14 billion cubic feet of natural gas storage capacity. The investor deck for the conference is available on the Enterprise website.