Key Developments: Enterprise Products Partners LP (EPD.N)

EPD.N on New York Stock Exchange

34.13USD
19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Enterprise Products Partners LP Announces increase In Cash Distribution
Thursday, 31 Oct 2013 06:00am EDT 

Enterprise Products Partners LP announced that it has declared an increase in its quarterly cash distribution rate with respect to the third quarter of 2013 to $0.69 per unit, which represents a 6% increase over the $0.65 per unit rate that was paid with respect to the third quarter of 2012. Enterprise`s distributable cash flow for the third quarter of 2013 provided 1.5 times coverage of the cash distribution that will be paid on November 7, 2013 to unitholders of record on October 31, 2013.  Full Article

U.S. Regulator Rules Against Enterprise Products Partners LP's Pipeline Closure-Reuters
Thursday, 17 Oct 2013 02:55pm EDT 

Reuters reported that a U.S. energy regulator ruled that Enterprise Product Partners LP broke the law when it closed a distillates pipeline running from the Gulf Coast to the Midwest, according to an order issued on October 17, 2013. The Federal Energy Regulatory Commission said it can order damages in the case and would set a hearing to see how much if any should be awarded. But it said it did not have the authority to demand a reversal of the shutdown by the pipeline operator, Enterprise TE Product Pipeline Company LLC. FERC said the closure had broken an agreement with shippers signed earlier this year that stipulated all tariffs in that agreement should remain in effect for two years.  Full Article

Enterprise Products Partners LP Declares Distribution
Monday, 14 Oct 2013 08:58am EDT 

Enterprise Products Partners L.P announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.69 per common unit, or $2.76 per unit on an annualized basis. The quarterly distribution will be paid on November 7, 2013, to unitholders of record as of the close of business on October 31, 2013. This distribution, which represents a 6.2% increase over the $0.65 per unit distribution declared with respect to the third quarter of 2012, is the 46th distribution increase since Enterprise's initial public offering in 1998 and the 37th consecutive quarterly increase.  Full Article

Enterprise Products Partners LP To Build LPG Export Terminal On U.S. Gulf Coast-Reuters
Wednesday, 2 Oct 2013 08:59am EDT 

Reuters reported that Enterprise Products Partners LP said it would build a liquefied petroleum gas (LPG) export terminal on the U.S. Gulf Coast to cater to increased demand for propane and butane from international customers. The terminal, which will handle up to gas carriers, is expected to become operational by the fourth quarter of 2015, the distribution and pipeline company said in a statement. Enterprise Products said the new terminal is expected to have an initial capacity to load 6.0-6.5 million barrels of propane or butane per month.  Full Article

Enterprise Products Partners LP Declares Distribution
Wednesday, 10 Jul 2013 05:51pm EDT 

Enterprise Products Partners LP announced that board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.68 per common unit, or $2.72 per unit on an annualized basis. The quarterly distribution will be paid on August 7, 2013, to unitholders of record as of the close of business on July 31, 2013.  Full Article

Enterprise Products Partners LP Forms Joint Venture With Western Gas Partners LP To Own Two New NGL Fractionation Trains At Mont Belvieu
Wednesday, 12 Jun 2013 11:30am EDT 

Enterprise Products Partners LP announced that the partnership has entered into a joint venture with Western Gas Partners LP to own natural gas liquid (NGL) fractionation trains 7 and 8, which are under construction at Enterprise's complex in Mont Belvieu, Texas. Western Gas has acquired a 25% minority ownership interest in the joint venture, and Enterprise retains the remaining 75% ownership interest. Trains 7 and 8 have a design capacity to fractionate approximately 170,000 barrels per day BPD of NGLs. These trains are expected to begin commercial operations in the fourth quarter of 2013.  Full Article

Enterprise Products Partners LP Declares Distribution
Tuesday, 9 Apr 2013 05:27pm EDT 

Enterprise Products Partners LP announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.67 per common unit, or $2.68 per unit on an annualized basis. The quarterly distribution will be paid on May 7, 2013, to unitholders of record as of the close of business on April 30, 2013.  Full Article

Enterprise Products Partners LP Prices $2.25 Billion Of Senior Unsecured Notes
Monday, 11 Mar 2013 05:57pm EDT 

Enterprise Products Partners LP announced that its operating subsidiary, Enterprise Products Operating LLC (EPO), has priced a public offering of $2.25 billion of senior unsecured notes comprised of $1.25 billion due on March 15, 2023 (Senior Notes HH) and $1 billion due on March 15, 2044 (Senior Notes II). Net proceeds from the offering are expected to be used to repay debt, including the refinancing of $550 million principal amount of senior notes that matured in February 2013 and $650 million principal amount of senior notes scheduled to mature in April 2013, and for general company purposes. .P. Morgan Securities LLC, DNB Markets, Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.  Full Article

Enterprise Products Partners LP Elects New Chairman
Tuesday, 19 Feb 2013 05:55pm EST 

Enterprise Products Partners LP announced that the board of directors of its general partner, Enterprise Products Holding LLC, has approved certain organization changes, including the election of a new Chairman of the Board of general partner and the creation of an Office of the Chairman. Randa Duncan Williams has been elected non-executive Chairman of the Board of the general partner. Ms. Williams succeeds Dr. Ralph S. Cunningham, who has served as Chairman since 2010.  Full Article

Enterprise Products Partners LP Sells Additional Common Units
Tuesday, 5 Feb 2013 06:20pm EST 

Enterprise Products Partners LP announced that the underwriters of its common unit offering, which priced this morning, have exercised their full over-allotment option to purchase 1,200,000 additional common units. These units represent limited partner interests in Enterprise and were priced to the public at $54.56 per common unit. Net proceeds from the sale of the additional 1,200,000 common units will approximate $63.5 million after deducting underwriting discounts, commissions and offering expenses. The total net proceeds from the offering, including the exercise of the over-allotment option, will approximate $487 million. Enterprise intends to use the net proceeds for general partnership purposes, which may include repayment of debt, including the repayment of amounts outstanding under its multi-year revolving credit facility or commercial paper program, working capital, capital expenditures and acquisitions. Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are joint book-running managers for the offering.  Full Article

Enterprise shelves massive Bakken pipeline project

HOUSTON/NEW YORK, Dec 12 - Enterprise Products Partners on Friday shelved plans to build the first crude pipeline from North Dakota to the storage hub in Cushing, Oklahoma, likely hindered by competition from other shippers and lower oil prices.

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