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Enterprise Products Cheers Investors With Distribution Hike

Zacks Equity Research

Enterprise Products Partners LP EPD announced a hike in the quarterly cash distribution for the second quarter of 2019.

The distribution of 44 cents per common unit, reflects a sequential increase of 0.6% and a year-over-year hike of 2.3%. The increased distribution is likely to be paid on Aug 13 to unitholders of record as of Jul 31. Investors should know that with the latest increase in distribution, the partnership managed to hike distributions for 60 quarters in a row.

The persistent rise in quarterly distributions reflects Enterprise Products’ stable business model. With extensive networks of oil, natural gas, and refined product pipelines and storage assets, the partnership is among the largest midstream energy players in North America. Along with huge backlog of growth projects and stable fee-based revenues from the existing midstream infrastructures, the partnership is well positioned to increase distributions in the coming quarters.

Enterprise Products is slated to report second-quarter 2019 results on Jul 31, before the opening bell. The Zacks Consensus Estimate for the partnership for the to-be-reported quarter is pegged at 51 cents.

Enterprise Products Partners L.P. Price


Enterprise Products Partners L.P. Price

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

Presently, Enterprise Products carries a Zacks Rank #2 (Buy). Some other prospective players in the energy space are Oceaneering International, Inc. OII, Helix Energy Solutions Group, Inc. HLX and Approach Resources Inc. AREX. All the stocks currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Oceaneering International has surpassed the Zacks Consensus Estimate for earnings in the past four quarters.

Helix Energy is likely to see earnings growth of 47.4% in 2019.

Approach Resources has surpassed the Zacks Consensus Estimate for earnings in three of the past four quarters.

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Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report
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