|Bid||27.78 x 1300|
|Ask||27.79 x 800|
|Day's Range||27.70 - 27.93|
|52 Week Range||24.01 - 30.25|
|PE Ratio (TTM)||22.43|
|Dividend & Yield||1.68 (6.08%)|
|1y Target Est||N/A|
A landmark jury verdict against Houston-based Enterprise Products Partners LP (EPD) in a dispute with Dallas-based Energy Transfer Partners LP (ETP) has been overturned by an appeals court. In 2014, Enterprise had been ordered to pay $535.8 million to ETP , including $319.4 million in actual damages awarded by a jury, plus $150 million in disgorged profits and $66.4 million in pre-judgement interest. Now, the Texas’ 5th District Court of Appeals in Dallas has ruled that ETP will collect nothing.
The Dallas Court of Appeals has reversed the 2014 landmark Texas jury verdict that legally established a business version of common law marriage and resulted in a $535 million judgment against Houston-based Enterprise Products Partners. In a unanimous 20-page opinion, the three-judge panel ruled that Dallas-based pipeline company Energy Transfer Partners “did not prove as a matter of law” that Enterprise’s actions with ETP as part of a planned joint venture superseded prior written agreements between the two companies that there would be no actual business partnership unless certain conditions were met. Justice Lana Myers, writing for the court, said that the trial judge should have dismissed the case before the jury even started to deliberate because ETP had not met its burden of proof.
Whether the stock market's up or down, Enterprise Product Partners, Automatic Data Processing, and Amgen should keep the dividends flowing.