|Bid||27.56 x 2900|
|Ask||27.57 x 2900|
|Day's Range||27.29 - 27.75|
|52 Week Range||23.33 - 30.87|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||11.95|
|Earnings Date||Oct 28, 2019|
|Forward Dividend & Yield||1.77 (6.44%)|
|1y Target Est||34.87|
Enterprise Products Partners (EPD) closed the most recent trading day at $27.58, making no change from the previous trading session.
Enterprise Products Partners L.P. (EPD) (“Enterprise”) today announced it will proceed with an expansion of its Appalachia-to-Texas (“ATEX”) ethane pipeline, based on customer commitments received during a recent 30-day binding open season. “The success of the open season reflects the demand for additional, reliable ethane takeaway capacity from the Appalachian region of the country,” said Michael C. “Tug” Hanley, senior vice president, Pipelines and Terminals for Enterprise’s general partner. The current capacity of ATEX is approximately 145,000 barrels per day (“BPD”).
Enterprise Products (EPD) is well placed to continue to hike quarterly distributions since it has growth capital projects worth $6 billion under construction.
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Legal experts say it is the most important business partnership dispute to be decided by the Texas Supreme Court since Pennzoil v. Texaco in the 1980s.
Enterprise Products Partners L.P. (EPD) (“Enterprise”) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to limited partners with respect to the third quarter of 2019 to $0.4425 per common unit, or $1.77 per unit on an annualized basis. The quarterly distribution will be paid Tuesday, November 12, 2019, to unitholders of record as of the close of business Thursday, October 31, 2019. This distribution, which represents a 2.3 percent increase over the distribution declared with respect to the third quarter of 2018, is the partnership’s 61st consecutive quarterly distribution increase.
Enterprise Products Partners (EPD) closed at $27.94 in the latest trading session, marking a -0.07% move from the prior day.
Enterprise Products Partners L.P. (EPD), through its wholly owned affiliate M2E4 LLC (“Enterprise”), today announced it has long-term agreements that support a further expansion of the Midland to ECHO crude oil pipeline system. Enterprise will build a pipeline that connects the partnership’s 6 million barrel Midland, Texas storage facility to its ECHO Terminal through its Eagle Ford system in South Texas (the “Pipeline”). Enterprise’s Houston crude oil distribution system includes more than 45 million barrels of storage, approximately 4 million BPD of export capacity from the partnership’s network of marine terminals, and connects to every refinery in the Houston, Texas City and Beaumont/Port Arthur area, representing approximately 4.5 million BPD of capacity.
Energy Transfer stock has fallen for eight straight trading sessions, closing at $12.67 on October 2. It is now trading at its lowest levels of the year.
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Enterprise Products Partners (EPD) closed the most recent trading day at $28.52, moving -0.21% from the previous trading session.
It was a comparably poor third quarter for energy stocks, with the sector falling 5% quarter to date as of Sept. 24. During that same period, oil prices fell by roughly 2%, continuing the recent trend of energy stocks underperforming oil prices. Historically, energy stocks and oil prices have moved in tandem.
(Bloomberg) -- Pipeline owners that ditched a partnership structure in favor of becoming corporations are performing better than their tax-shielded peers. But that isn’t convincing everyone to convert.Even though the number of publicly traded master-limited partnerships dwindled by more than one-third in the past four years as enthusiasm for the model waned, a few stalwarts are keeping the structure, saying any possible benefits are overshadowed by the tax hit investors would incur.With the tax burden -- and additional governance measures -- that come from converting, even the promise of a higher market value and lower borrowing costs might not be enough to change minds. The giants of the pipeline partnership space -- Energy Transfer LP and Enterprise Products Partners LP -- aren’t signaling any imminent plans to ditch the MLP model.“It doesn’t look like something Energy Transfer or Enterprise would want to do,” said Simon Lack, a managing partner at SL Advisors LLC, which advises family offices and institutional investors. Being a partnership “isn’t impeding them from growing because they’re just funding their growth projects internally and with a little bit of debt.”Master limited partnerships, or MLPs, that once dominated the U.S. pipeline sector have become an endangered species since the crude-market crash of 2014-2016 diminished access to capital markets and investors frowned on dilutive new equity issuances that historically powered the sector’s growth planes.Pipeline corporations traded at 11.4 times earnings during the second quarter, excluding taxes and other expenses, according to Bloomberg Intelligence. That compared to 10 times earnings for their MLP counterparts. And while the corporations are trading at multiples in line with the five-year average, the big MLPs are about 17% below the trendline.Moreover, for the past year corporations like Kinder Morgan Inc., Oneok Inc. and Enbridge Inc. have beaten the units of Energy Transfer and Enterprise.For the billionaire founding families behind Energy Transfer and Enterprise, the biggest deterrent to conversion may be the multimillion-dollar tax obligations they would invite by abandoning the MLP haven, Lack said.The Duncan family, whose late patriarch Dan Duncan founded Enterprise, owns roughly a third of the Houston-based pipeline operator. Kelcy Warren, founder and chief executive officer of Energy Transfer, holds a 9.4% in the limited partner and controls the general partner.Tax BurdensThe tax bill that would come with being a corporation would come in around $340 million a year for the Duncans, according to Lack’s calculations. For Warren, the bill would be about $65 million annually, based on last year’s net income, but “that figure will increase over the next few years,” Lack said.Enterprise spokesman Rick Rainey declined to comment on “such rank and uninformed speculation.” Energy Transfer also declined to comment.“We don’t like paying tax. We don’t think our unitholders like us to subject them to tax,” Warren said on a conference call last year. “However, if we find that there’s compelling reason that if we have the c-corp currency that would help us fund our growth, help all of our unitholders, then we are certainly open to that, and we’ll continually look at it.”The pipeline-partnership structure, pioneered by Texas billionaire Rich Kinder in the 1990s, flourished during the first decade-and-a-half of the century, when the number publicly-traded MLPs reached about 90. But Kinder was among the first to abandon the model when the tax benefits began to be eroded by higher borrowing costs.$54 Billion EnterpriseIn a sweeping $44 billion, 2014 consolidation, Kinder rolled MLPs he controlled into a single corporation: Kinder Morgan Inc. Although the makeover lowered investor payouts, it left the company holding more cash to fund new projects or acquire rivals, Kinder said at the time.In the latest swipe at the MLP model, Elliott Management Corp. on Wednesday urged Marathon Petroleum Corp. to pursue a breakup that would include converting its pipeline MLP to a corporation and spinning off some of the shares to Marathon Petroleum investors.Elliott estimated Marathon Petroleum’s pipeline business has an enterprise value of about $54 billion, on par with that of Kinder, according to a 45-page presentation published Wednesday.Aside from the tax implications, though, any MLP mulling a conversion to a corporation would have to comply with governance standards their billionaire backers may be loathe to entertain, said Jeff Jorgensen, portfolio manager and director of research at Brookfield Asset Management Inc.’s Public Securities Group.“They would have to change their board, they would have to change the way they operate from a corporate governance standpoint,” Jorgensen said. “In doing so, they open themselves up to activism. If you think about an Energy Transfer, does Kelcy Warren just invite activism tomorrow?”(Updates with response from Energy Transfer in 11th paragraph)To contact the reporter on this story: Rachel Adams-Heard in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Enterprise Products Partners reported that it will build a second PDH plant at its complex in Mont Belvieu, Texas, bolstered by long-term supply contracts with LyondellBasell Industries.
Energy Transfer stock is currently trading at a distribution yield of 9.4%, one of the highest among its peers. Its historical average yield is around 7%.
LyondellBasell Industries N.V. (LYB) (“LyondellBasell”) and Enterprise Products Partners L.P. (EPD) (“Enterprise”) today announced that their respective affiliates have executed long-term contracts that support construction of Enterprise’s second propane dehydrogenation (“PDH”) plant (“PDH 2”). PDH 2 will have the capacity to consume up to 35,000 barrels per day (“BPD”) of propane and produce up to 1.65 billion pounds per year of polymer grade propylene (“PGP”). PDH 2 will be located at Enterprise’s complex in the Mont Belvieu, Texas area.
In the latest trading session, Enterprise Products Partners (EPD) closed at $28.90, marking a -1.23% move from the previous day.
Energy Transfer (ET) stock has recovered in the last two trading sessions after investors hammered it on its plans to acquire SemGroup (SEMG).
Enterprise Products (EPD) plans to capitalize on the mounting demand for transporting growing natural gas volume to key LNG markets in South Louisiana from Haynesville Shale.
I found two cheap energy stocks that are all well worth considering for both current and future performance as well as their high dividend yields, suggests Chris Preston, editor of Cabot Wealth Network.