Welcome to our dedicated page for Enterprise Products Partners L.P. news (Ticker: EPD), a resource for investors and traders seeking the latest updates and insights on Enterprise Products Partners L.P. stock.
Enterprise Products Partners L.P. (EPD) stands as one of North America's leading providers of midstream energy services. Operating as a master limited partnership, EPD specializes in the transportation and processing of natural gas, natural gas liquids (NGLs), crude oil, refined products, and petrochemicals. The company's extensive network serves most producing regions across the Lower 48 states, emphasizing its significant presence in the energy sector.
Enterprise Products Partners is particularly dominant in the NGL market, offering a comprehensive range of midstream services across the entire hydrocarbon value chain. This includes gathering, processing, storage, and transportation. The company owns approximately 50,000 miles of pipeline, 260 million barrels of storage capacity for NGLs, crude oil, refined products, and petrochemicals, and 14 billion cubic feet of natural gas storage capacity.
EPD's commitment to innovation and growth is evident in its recent achievements and ongoing projects. The company continuously explores new growth areas and developing markets to enhance its service offerings. This proactive approach has led to the development of several key infrastructure projects aimed at increasing capacity and efficiency. Recent expansions include new pipelines, fractionators, and export facilities, positioning EPD as a critical player in the energy sector.
Financially, Enterprise Products Partners has demonstrated robust performance, characterized by steady revenue streams and a strong balance sheet. The company's reliable cash flow supports its substantial capital expenditure programs and enables regular distribution payments to its unit holders. Strategic partnerships and joint ventures further amplify EPD's operational capabilities and market reach.
Enterprise Products Partners places a high value on human capital, recognizing that its success is driven by its talented workforce. The company offers competitive compensation packages and a comprehensive benefits program, providing employees with the flexibility to tailor benefits to their personal and family needs. EPD actively recruits highly motivated individuals with a passion for success, offering numerous career opportunities across various energy-related fields.
For those interested in joining a dynamic and forward-thinking organization, Enterprise Products Partners provides detailed information about career opportunities, benefits, application processes, and recruiting events on its website. Visit www.enterpriseproducts.com for more information.
Enterprise Products Partners L.P. (NYSE: EPD) has announced a significant expansion project along the Houston Ship Channel to meet growing customer demand for natural gas liquids (NGL) export capacity. The company is increasing refrigeration capacity at its Enterprise Hydrocarbons Terminal (EHT), which will boost propane and butane export capabilities by approximately 300,000 barrels per day (BPD). This expansion, set to be operational by the end of 2026, will also enhance loading rates and create additional capacity for propylene exports.
Additionally, Enterprise is developing the Neches River Terminal (NRT) in Orange County, Texas. Phase 1 of NRT, expected to begin service in the second half of 2025, includes a new loading dock, an ethane refrigeration train with 120,000 BPD capacity, and a 900,000-barrel refrigerated tank. Phase 2, slated for the first half of 2026, will further increase ethane and propane loading capabilities.
Enterprise Products Partners (NYSE: EPD) reported a strong Q2 2024 financial performance, with net income of $1.4 billion or $0.64 per unit, up 12% compared to Q2 2023. The distributable cash flow (DCF) was $1.8 billion, covering distribution 1.6 times, and a 5% increase in distribution to $0.525 per unit.
Enterprise repurchased $40 million of common units, utilizing 50% of its $2 billion buyback program. The Adjusted Cash Flow from Operations (CFFO) was $2.1 billion, up from $1.9 billion in Q2 2023. The partnership expects organic growth capital investments of $3.5-$3.75 billion in 2024 and $3.25-$3.75 billion in 2025.
Enterprise handled record volumes in several segments, including 12.6 million BPD of equivalent pipeline volumes and 2.2 million BPD of marine terminal volumes. Total capital investments reached $1.3 billion, including $1.0 billion for growth projects. The company also completed significant turnarounds at its PDH 1 facility, which is expected to enhance reliability and utilization rates.
Enterprise Products Partners (NYSE: EPD) declared a quarterly cash distribution of $0.525 per unit for Q2 2024, translating to $2.10 per unit annually. This is a 5% increase over the previous year's Q2 distribution. The distribution will be paid on August 14, 2024, to unitholders of record as of July 31, 2024.
Additionally, Enterprise repurchased $40 million worth of common units in Q2 2024, utilizing 50% of its $2 billion buyback program. The company will announce its Q2 2024 earnings on July 30, 2024, followed by a conference call at 9 a.m. CDT.
Enterprise Products Partners operates over 50,000 miles of pipelines and substantial storage capacities for various energy products. The press release also includes a qualified notice regarding tax withholding for non-U.S. unitholders.
Enterprise Products Partners L.P. (NYSE: EPD) announced the availability of its 2023 Schedule K-3 forms online, which include items of international tax relevance. This information is important for a number of foreign unitholders, those computing a foreign tax credit, and certain corporate and partnership unitholders. The form is not being mailed to investors; instead, it can be accessed at www.taxpackagesupport.com/enterprise. Investors needing an electronic copy can request one via the provided toll-free number. Enterprise Products Partners is a leading North American provider of midstream energy services, managing extensive assets that include over 50,000 miles of pipelines and substantial storage capacities for various energy products.
Enterprise Products Partners L.P. (NYSE: EPD) will participate in the J.P. Morgan Energy, Power, and Renewables Conference on June 17-18, 2024, in New York City. Enterprise is a leading North American provider of midstream energy services, including natural gas gathering, treating, processing, transportation, and storage. The company also handles NGLs, crude oil, refined products, and petrochemicals. Their assets include over 50,000 miles of pipelines, 300 million barrels of storage capacity, and 14 billion cubic feet of natural gas storage capacity. The investor deck for the conference is available on the Enterprise website.
Enterprise Products Partners (NYSE: EPD) has initiated a binding open season for additional diluent volumes on its TE Products Pipeline System. The expansion caters to increased shipper demand for diluent transport into the Midwest, connecting to third-party pipelines for Canadian market access. The open season starts on June 4, 2024, and ends on July 3, 2024. If sufficient commitments are made, the expanded service will be available by July 2025.
The current pipeline, starting in Mont Belvieu, Texas, and extending to Chicago, will undergo upgrades and additional pumping horsepower to accommodate the new capacity. This expansion will not affect existing shippers. TE Products Pipeline operates over 3,000 miles of pipelines transporting refined products and natural gas liquids (NGL) from Texas to multiple states including Indiana, Illinois, Ohio, New York, and Pennsylvania.
Enterprise Products Partners (NYSE: EPD) will participate in the 21st Annual Energy Infrastructure CEO & Investor Conference on May 22-23, 2024, in Aventura, Florida.
Enterprise is a leading midstream energy services provider in North America, handling natural gas, NGLs, crude oil, refined products, and petrochemicals. The company operates over 50,000 miles of pipelines and has significant storage capacities, including over 300 million barrels for NGLs, crude oil, petrochemicals, and refined products, and 14 billion cubic feet for natural gas.
For more information, visit the Enterprise website, or view the full press release on BusinessWire.
Enterprise Products Partners L.P. reported a 5% increase in net income for the first quarter of 2024 compared to the same period in 2023. DCF was $1.9 billion for both quarters. Adjusted CFFO was $2.1 billion in Q1 2024. Enterprise retained $786 million of DCF and repurchased $40 million of its common units. Total capital investments were $1.1 billion in Q1 2024 with $3.25-$3.75 billion expected for organic growth in 2024-2025.
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