U.S. Markets closed

Enterprise to Gain on Scheduled Ethylene Pipeline Extension

Zacks Equity Research

Enterprise Products Partners LP EPD has decided to further extend its network of ethylene pipeline in South Texas. This reflects the partnership’s prime intention of capitalizing opportunities arising from the increase in the number of ethylene derivative plants and crackers.

The Baymark ethylene pipeline has been backed by commitments of shippers for a long term and is expected to come online by the fourth quarter of 2020. The partnership added that the pipeline will cover roughly 90 miles from its origination point — Bayport region of Southeast Harris County — to Markham in Matagorda County, TX.

Enterprise Products added that once the Baymark ethylene pipeline comes online, customers will get access to the export terminal of ethylene, being constructed at Morgan’s Point. Notably, once the terminal comes online by the fourth quarter of 2019, it will be capable of exporting as high as 2.2 billion pounds of ethylene annually. Importantly, the Baymark ethylene pipeline will provide a link to customers with the ethylene storage well of the partnership.

Overall, with the extension of the ethylene pipeline network, Enterprise Products will be able to capitalize on the growing petrochemical industry in the United States.

Headquartered in Houston, TX, Enterprise Products is a leading midstream energy player in North America, connecting consumers with producers of commodities like oil, natural gas, natural gas liquids and petrochemicals.

Enterprise Products Partners L.P. Price

Enterprise Products Partners L.P. Price

Enterprise Products Partners L.P. price | Enterprise Products Partners L.P. Quote

 

 

The partnership currently sports a Zacks Rank #1 (Strong Buy). Other top-ranked players in the energy space are Apache Corporation APA, Ecopetrol S.A. EC and Anadarko Petroleum Corporation APC. All these stocks currently sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Apache has average positive earnings surprise of 6.6% for the last four quarters.

Ecopetrol is likely to witness earnings growth of 25.3% in 2019.

Anadarko Petroleum has average positive earnings surprise of 6.6% for the last four quarters.

Will you retire a millionaire?

One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”

Click to get it free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report
 
Ecopetrol S.A. (EC) : Free Stock Analysis Report
 
Apache Corporation (APA) : Free Stock Analysis Report
 
Anadarko Petroleum Corporation (APC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research