Stock Monitor: Houston American Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 14, 2018 / Active-Investors.com has just released a free earnings report on Enterprise Products Partners L.P. (NYSE: EPD) ("Enterprise Products"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EPD. The Company posted its financial results on January 31, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and full fiscal year 2017 (FY17). The Houston, Texas-based Company's quarterly revenues and diluted EPS grew on a y-o-y basis, outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Enterprise Products Partners most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During the quarter ended December 31, 2017, Enterprise Products' revenues were $8.43 billion, which came in above the $6.48 billion recorded at the end of Q4 FY16. Furthermore, the Company's revenues for the reported quarter beat market expectations of $7.05 billion.
The midstream energy services provider reported a net income attributable to limited partners of $774.0 million, or $0.36 per diluted share, in Q4 FY17 compared to $658.8 million, or $0.31 per diluted share, in Q4 FY16. Excluding non-cash impairment charges of approximately $15 million, or $0.01 per unit, in FY16 and FY17, the Company's adjusted earnings per share (EPS) stood at $0.37 for Q4 FY17, compared to $0.32 in Q4 FY16. Meanwhile, Wall Street had expected the Company to report diluted EPS of $0.35 in Q4 FY17.
For the full year FY17, the Company's revenues came in at $29.24 billion compared to $23.02 billion in FY16. The Company's net income attributable to limited partners was $2.80 billion, or $1.30 per diluted share, for FY17 versus $2.51 billion, or $1.20 per diluted share, in FY16. For the years ended December 31, 2017, and December 31, 2016, net income and fully diluted earnings per unit included non-cash impairment and related charges of $50 million, or $0.02 per unit, and $54 million, or $0.03 per unit, respectively.
Enterprise Products' total operating costs and expenses grew to $7.46 billion during Q4 FY17 from $5.65 billion in the past year's same quarter. The Company's operating income rose to $1.08 billion during Q4 FY17 from $923.2 million in Q4 FY16. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $1.54 billion for Q4 FY17 compared to $1.36 billion in Q4 FY16.
In Q4 FY17, Enterprise Products' quarterly marine terminal volumes totaled 1.7 million barrels per day (BPD) versus 1.3 million BPD in the prior year's comparable quarter. The Natural gas pipeline volumes increased to 12.9 trillion British thermal units (TBtu) during Q4 FY17 from 11.5 TBtu in Q4 FY16. NGL fractionation volumes also increased to 863 thousand barrels per day (MBPD) during Q4 FY17 from 846 MBPD in Q4 FY16. Fee-based natural gas processing volumes were 4.3 billion cubic feet per day (Bcf/d) in Q4 FY17 compared to 4.4 Bcf/d in Q4 FY16. Equity NGL production volumes were 153 MBPD during Q4 FY17 versus 156 MBPD in Q4 FY16. Furthermore, NGL, crude oil, refined products, and petrochemical pipeline volumes were 6.0 million BPD in Q4 FY17, up from 5.3 million BPD in Q4 FY16.
During Q4 FY17, NGL Pipelines & Services segment's gross operating margin was $871.5 million compared to $784.3 million in Q4 FY16. Crude Oil Pipelines & Services segment's gross operating margin increased to $295.5 million in Q4 FY17 from $220.9 million in Q4 FY16. In Q4 FY17, Natural Gas Pipelines & Services segment contributed $178.5 million to the Company's gross operating margin compared to $201.3 million in the year ago corresponding quarter. Moreover, the Petrochemical & Refined Products Services segment's gross operating margin was $172.0 million for Q4 FY17 compared to $148.7 million in Q4 FY16.
Cash Matters and Balance Sheet
For the quarter ended December 31, 2017, Enterprise Products generated a GAAP net cash flow provided by operating activities of $1.82 billion compared to $1.41 billion in the quarter ended September 30, 2017. The Company's distributable cash flow came in at $1.26 billion for the reported quarter compared to $1.03 billion in Q4 FY17.
Stock Performance Snapshot
February 13, 2018 - At Tuesday's closing bell, Enterprise Products Partners' stock climbed 1.38%, ending the trading session at $27.18.
Volume traded for the day: 3.63 million shares.
Stock performance in the last three-month – up 8.72%; previous six-month period – up 5.76%; and year-to-date – up 2.53%
After yesterday's close, Enterprise Products Partners' market cap was at $58.45 billion.
Price to Earnings (P/E) ratio was at 24.51.
The stock has a dividend yield of 6.25%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was flat at the end of the session.
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