29.30 0.00 (0.00%)
After hours: 5:55PM EDT
|Bid||29.20 x 2200|
|Ask||29.30 x 3200|
|Day's Range||29.11 - 29.33|
|52 Week Range||23.33 - 30.05|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||14.18|
|Earnings Date||Jul 30, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||1.75 (6.01%)|
|1y Target Est||34.04|
Enterprise Products Partners L.P. today announced that its operating subsidiary, Enterprise Products Operating LLC , has priced a public offering of $2.5 billion aggregate principal amount of notes comprised of $1.25 billion principal amount of senior notes due July 31, 2029 and $1.25 billion principal amount of senior notes due January 31, 2050 .
(Bloomberg) -- Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that it’s poised to inherit through its takeover of Anadarko Petroleum Corp., according to people familiar with the matter.Occidental is working with a financial adviser to solicit offers for half of Anadarko’s interest in Western Midstream and Western Midstream’s general partner, or management entity, said the people, who asked to not be identified because the matter isn’t public.The potential buyer of those stakes would also seek to acquire the 45% of Western Midstream that is traded publicly, the people said. That would leave Occidental with a minority stake in Western Midstream, the people said, enabling it to keep financial and operational interest in infrastructure for getting its oil and gas to market.The stakes could draw interest from private equity firms and rival pipeline operators such as Oneok Inc., Enterprise Products Partners LP and Energy Transfer LP, one of the people said. No decision has been made and Occidental could opt to not proceed with a sale, they said.Representatives for Occidental, Anadarko and Enterprise Products declined to comment. Representatives for Oneok and Energy Transfer didn’t respond to requests for comment.Western Midstream rose 2.2% to close at $29.37 in New York trading Monday, giving The Woodlands, Texas-based company a market value of about $13.3 billion.Anadarko owns 55.5 percent of Western Midstream and all of its general partner, according to regulatory filings.Anadarko DealOccidental is poised to acquire Western Midstream after agreeing in May to buy Anadarko for $38 billion, a deal expected to close in the second half of 2019. Occidental has said it would be open to selling Western Midstream after outbidding Chevron Corp. for Anadarko."We don’t really feel like we have to necessarily own infrastructure to take advantage of it," Vicki Hollub, Occidental’s chief executive officer, said in a conference call with analysts on May 6. "We would be willing to consider the optimization, monetization, of that sooner rather than later depending on the potential buyer."Western Midstream controls more than 15,200 miles of pipelines and about six dozen processing and treatment facilities in the Midwestern U.S. and Texas, according to an investor presentation in May. Anadarko formed the company and took it public in 2012 as a so-called master limited partnership, or entity that gets tax breaks in exchange for doling out most of its profits to investors.A potential sale could help Occidental meet its goal of selling $10 billion to $15 billion of assets to pay down debt over the next two years. The company has already agreed to sell Anadarko’s operations in Africa for $8.8 billion to Total SA.(Updates company’s share price in sixth paragraph.)To contact the reporters on this story: Kiel Porter in Chicago at email@example.com;Rachel Adams-Heard in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, ;Simon Casey at firstname.lastname@example.org, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Is Enterprise Products Partners L.P. (NYSE:EPD) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock […]
Enterprise Products Partners (EPD) closed the most recent trading day at $28.86, moving +0.7% from the previous trading session.
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NuStar (NS) commences a binding open season, which will close on Jul 12, 2019, pertaining to additional capacity of the Valley Pipeline System.
Houston-based Enterprise Products Partners LP (NYSE: EPD) has filed for tax incentives on a new $469 million project to build another fractionator at its existing complex in Mont Belvieu. If built as described in the incentive application, the fractionator — called Frac #12 — would employ at least 15 people paid at least $67,000 annually, according to documents filed by the Texas Comptroller on June 11. The project would employ 500 workers at peak construction, according to the application.
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