Enterprise (EPD) Loads LPG-Powered Vessel For the First Time
Enterprise Products Partners LP EPD announced that for the first time it has loaded a liquefied petroleum gas (“LPG”)-powered vessel.
After getting loaded at the Houston Ship Channel terminal of the leading North American midstream service provider, the Very Large Gas Carriers (“VLGC”) is now reportedly leading the way toward the Panama Canal. The partnership added that in the VLGC BW Gemini, a record of 590,000 barrels of LPG have been loaded along with cargo and fuel.
The partnership believes the achievement to tremendously benefit the LPG value chain’s demand and supply side. The partnership expects LPG demand to continue to grow, since its use by the vessels will result in a significant decline in carbon emissions as compared to other fuels like coal and wood. Thus, while providing the most needed choice of refuelling vessels with LPG and thereby reducing carbon emissions, Enterprise Products has aligned its operations with the new International Maritime Organization standards (IMO 2020).
Hence, the midstream service provider is securing additional export terminal fees since it will allow LPG-powered vessels, which will carry shale production from the United States, to get refuelled at its loading dock with no need to again go to the bunkering facility.
Enterprise Products Partners L.P. Price
Enterprise Products Partners L.P. price | Enterprise Products Partners L.P. Quote
Headquartered in Houston, TX, Enterprise Products currently carries a Zacks Rank #3 (Hold). Meanwhile, better-ranked players in the energy space include Summit Midstream Partners, LP SMLP, DCP Midstream, LP DCP and HighPoint Resources Corporation HPR. While Summit Midstream carries a Zacks Rank #2 (Buy), DCP Midstream and HighPoint sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
HighPoint is likely to see earnings growth of 167.5% in 2020.
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Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report
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