Enterprise Products Partners (EPD) closed the most recent trading day at $27, moving +1.35% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.The provider of midstream energy services's shares have seen a decrease of 0.15% over the last month, not keeping up with the Oils-Energy sector's gain of 0.83% and the S&P 500's gain of 3.4%.The investment community will be closely monit ...

Enterprise Products Partners (EPD) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this provider of midstream energy services have returned -0.2%, compared to the Zacks S&P 500 composite's +4% change. During this period, the Zacks Oil and Gas - Production Pipeline - MLB industry, which Enterprise Products falls in, has lost 0.6%. The key question now is: ...

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) today announced that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), has priced a public offering of $2.0 billion aggregate principal amount of notes comprised of (i) $1.0 billion principal amount of senior notes due January 11, 2027 (“Senior Notes HHH”), and (ii) $1.0 billion principal amount of senior notes due January 31, 2034 (“Senior Notes III”). Enterprise expects to use the net proceeds of this ...

MarsBarsBoth Enterprise Products Partners (NYSE:EPD) and MPLX (NYSE:MPLX) are blue-chip midstream MLPs (AMLP) that offer investors an attractive combination of safe and growing high-yield distributions, investment-grade balance sheets, and defensive business models that generate stable cash flows through a wide range of macroeconomics and energy industry environments. In this article, we compare them side-by-side and offer our take on which is the best buy right now. EPD Stock Vs. MPLX Stock: Business M ...

Key PointsEnterprise Products Partners tops the list of buy-rated high-yield values at the end of 2023.Verizon is in rebound mode and won't be this cheap or high-yielding for long. Ethan Allen Interiors is a comfortable stock to sit in and wait for the Fed to cut rates. 5 stocks we like better than Enterprise Products PartnersWith interest rates slated to come down by the end of 2024, it's time to look at high-yielding stocks. Stocks with yields above 4% should outperform bonds over the coming years, as the ...

Leonardo Penuela Bernal/iStock via Getty ImagesAre you seeking a company that's considered a sound investment, with reliable cash flow generation and a high yield to support your retirement or income oriented investment goals? Enterprise Products Partners L.P. (NYSE:EPD) should certainly be on your radar. EPD boasts a $56.9 billion market cap and an enticing distribution yield of 7.63%, backed by a robust 1.7x distribution coverage ratio. However, a substantial yield alone doesn't guarantee an excellent ...

If you're looking for a dividend stock you can count on, Enterprise Products Partners (EPD -0.23%) is one worth considering. For over 25 years, the company has raised its distribution annually to shareholders, and today, it yields investors 7.7%.Enterprise Products Partners operates in the oil and gas industry, but its structure makes it less vulnerable to the wild price swings in these energy products. The company is a solid dividend stock, but there are at least three things you'll want to consider before ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission file number: 1-14323 ENTERPRISE PRODUCTS PARTNERS L.P. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission file number: 1-14323 ENTERPRISE PRODUCTS PARTNERS L.P. 1100 Louisiana Street, 10th Floor (Exact Name of Registrant as Specified in Its Charter) Hou ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) This section presents the unaudited condensed consolidated financial statements for Q1 2023, reporting a net income attributable to common unitholders of $1.39 billion and diluted EPS of $0.63 Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $9,687 | $10,598 | | **Total assets** | $67,325 | $68,108 | | **Total current liabilities** | $10,410 | $12,265 | | **Long-term debt** | $27,439 | $26,551 | | **Total partners' equity** | $26,787 | $26,623 | | **Total liabilities and equity** | $67,325 | $68,108 | Consolidated Operations Highlights (in millions, except per unit amounts) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Total revenues** | $12,444 | $13,008 | | **Operating income** | $1,734 | $1,666 | | **Net income** | $1,422 | $1,331 | | **Net income attributable to common unitholders** | $1,390 | $1,296 | | **Basic and diluted EPS** | $0.63 | $0.59 | Consolidated Cash Flow Highlights (in millions) | Cash Flow Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Net cash flows provided by operating activities** | $1,583 | $2,145 | | **Cash used in investing activities** | $(637) | $(3,532) | | **Cash used in financing activities** | $(876) | $(1,125) | [Note 7. Debt Obligations](index=14&type=section&id=Note%207.%20Debt%20Obligations) Total consolidated debt stood at $28.9 billion as of March 31, 2023, following a $1.75 billion senior note issuance and the refinancing of revolving credit facilities Consolidated Debt Obligations (in millions) | Category | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total principal amount** | $28,871 | $28,566 | | **Current maturities of debt** | $1,149 | $1,744 | | **Total long-term debt** | $27,439 | $26,551 | - In January 2023, EPO issued **$1.75 billion** in senior notes: **$750 million** due 2026 (5.05% fixed-rate) and **$1.0 billion** due 2033 (5.35% fixed-rate) Proceeds were used for general purposes, capital investments, and debt repayment, including the March 2023 maturity of **$1.25 billion** Senior Notes HH[68](index=68&type=chunk)[69](index=69&type=chunk) - In March 2023, EPO replaced its revolving credit agreements with a new **$1.5 billion** 364-day facility and a new **$2.7 billion** multi-year facility, both of which were undrawn as of March 31, 2023[60](index=60&type=chunk)[64](index=64&type=chunk) [Note 8. Capital Accounts](index=18&type=section&id=Note%208.%20Capital%20Accounts) In Q1 2023, the company repurchased **$17 million** in common units, retaining **$1.3 billion** in buyback capacity, and declared a **$1.08 billion** cash distribution - During Q1 2023, the Partnership repurchased **682,589 common units** for **$17 million** under its 2019 Buyback Program The remaining capacity under the program was **$1.3 billion** as of March 31, 2023[77](index=77&type=chunk)[78](index=78&type=chunk) - On April 5, 2023, a quarterly cash distribution of **$0.490 per common unit** was declared for Q1 2023, payable on May 12, 2023 The total payment amounts to **$1.08 billion**[85](index=85&type=chunk) [Note 10. Business Segments and Related Information](index=23&type=section&id=Note%2010.%20Business%20Segments%20and%20Related%20Information) Total segment gross operating margin increased to **$2.34 billion** in Q1 2023, driven by growth in Natural Gas Pipelines & Services despite declines in other segments Gross Operating Margin by Segment (in millions) | Segment | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **NGL Pipelines & Services** | $1,212 | $1,225 | | **Crude Oil Pipelines & Services** | $397 | $415 | | **Natural Gas Pipelines & Services** | $314 | $220 | | **Petrochemical & Refined Products Services** | $419 | $404 | | **Total segment gross operating margin** | $2,342 | $2,264 | - The company evaluates segment performance based on gross operating margin, which is reconciled from the GAAP measure of operating income by adjusting for depreciation, amortization, G&A costs, and other items[95](index=95&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) [Note 13. Hedging Activities and Fair Value Measurements](index=28&type=section&id=Note%2013.%20Hedging%20Activities%20and%20Fair%20Value%20Measurements) The company utilizes derivative instruments to manage interest rate and commodity price risks, terminating treasury lock transactions for **$21 million** in Q1 2023 and implementing various commodity hedging strategies - In January 2023, the company terminated two treasury lock transactions designated as cash flow hedges for its debt issuance, receiving total cash proceeds of **$21 million** Gains are reflected in accumulated other comprehensive income and will be amortized to reduce interest expense over the term of the debt[117](index=117&type=chunk) - Predominant commodity hedging strategies at March 31, 2023, included hedging future purchases and sales for transportation and storage, natural gas processing margins, the fair value of inventory, and power purchases[119](index=119&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management analyzes Q1 2023 financial performance, highlighting a **$77 million** increase in gross operating margin, **$4.0 billion** in liquidity, **$1.94 billion** in Distributable Cash Flow, and 2023 capital investment guidance of **$2.8 billion to $3.2 billion** Income Statement Highlights (in millions) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Revenues** | $12,444 | $13,008 | | **Operating income** | $1,734 | $1,666 | | **Net income attributable to common unitholders** | $1,390 | $1,296 | Distributable Cash Flow (DCF) (in millions) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **DCF (non-GAAP)** | $1,938 | $1,837 | | **Cash distributions paid** | $1,075 | $1,023 | | **Total DCF retained** | $863 | $814 | | **Distribution coverage ratio** | 1.8x | 1.8x | - Total capital investments for 2023 are expected to be between **$2.8 billion and $3.2 billion**, comprising **$2.4 billion to $2.8 billion** in growth capital and **$400 million** in sustaining capital expenditures[286](index=286&type=chunk) [Business Segment Highlights](index=47&type=section&id=Business%20Segment%20Highlights) Total gross operating margin rose to **$2.34 billion** in Q1 2023, primarily driven by significant increases in Natural Gas Pipelines & Services and Petrochemical & Refined Products Services - **NGL Pipelines & Services:** Gross operating margin decreased slightly by **$13 million** to **$1.21 billion** Strong performance in NGL pipelines and terminals, driven by higher export volumes, was offset by lower margins from natural gas processing and NGL fractionation[217](index=217&type=chunk)[219](index=219&type=chunk)[226](index=226&type=chunk)[233](index=233&type=chunk) - **Crude Oil Pipelines & Services:** Gross operating margin decreased by **$18 million** to **$397 million**, primarily due to a **$75 million** decline in deficiency revenues from the EFS Midstream System following the expiration of minimum volume commitments[235](index=235&type=chunk)[236](index=236&type=chunk) - **Natural Gas Pipelines & Services:** Gross operating margin increased significantly by **$94 million** to **$314 million** This was driven by higher average gathering fees in the Rocky Mountains, increased marketing margins, and higher transportation fees on the Texas Intrastate System[242](index=242&type=chunk)[243](index=243&type=chunk)[244](index=244&type=chunk) - **Petrochemical & Refined Products Services:** Gross operating margin increased by **$15 million** to **$419 million** Growth was led by a **$25 million** increase in octane enhancement operations and a **$16 million** increase in refined products pipelines, partially offset by a **$28 million** decrease in propylene production due to planned maintenance[249](index=249&type=chunk)[250](index=250&type=chunk)[252](index=252&type=chunk)[253](index=253&type=chunk) [Liquidity and Capital Resources](index=53&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity of **$4.0 billion** and generated **$1.94 billion** in Distributable Cash Flow, achieving a 1.8x distribution coverage ratio - At March 31, 2023, the company had **$4.0 billion** of consolidated liquidity, comprising **$3.9 billion** of available borrowing capacity and **$76 million** of unrestricted cash[259](index=259&type=chunk) - The average maturity of EPO's **$28.9 billion** in consolidated debt obligations was approximately **19.9 years** at March 31, 2023[263](index=263&type=chunk) - For Q1 2023, the company generated **$1.94 billion** of DCF, which covered its cash distributions to common unitholders by **1.8 times**, resulting in **$863 million** of retained DCF[281](index=281&type=chunk) [Capital Investments](index=58&type=section&id=Capital%20Investments) The company has **$6.1 billion** in growth capital projects planned through 2025, with 2023 investments forecasted between **$2.8 billion and $3.2 billion**, and Q1 2023 expenditures totaling **$653 million** - The company has approximately **$6.1 billion** of growth capital projects scheduled for completion by the end of 2025, including new natural gas processing plants, an NGL fractionator, and expansions of export capacity[286](index=286&type=chunk) Capital Investments (in millions) | Category | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Growth capital projects** | $542 | $265 | | **Sustaining capital projects** | $111 | $84 | | **Total Capital Expenditures** | $653 | $349 | | **Cash used for business combinations** | $0 | $3,204 | - The increase in Q1 2023 growth capital spending was primarily due to higher investments in natural gas processing and gathering projects in the Permian Basin[289](index=289&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=62&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company manages market risks from commodity prices and interest rates using derivative instruments, with sensitivity analyses illustrating the impact of price changes on derivative portfolios - The company uses derivative instruments such as futures, forward contracts, and swaps to manage risks associated with commodity prices and interest rates[304](index=304&type=chunk) - A sensitivity analysis is used to measure the change in fair value of derivative portfolios based on a hypothetical **10% change** in underlying prices, which would normally be offset by a corresponding change in the value of the hedged item[305](index=305&type=chunk) Fair Value of NGL & Refined Products Portfolio (in millions) | Scenario | March 31, 2023 | | :--- | :--- | | **Fair value (no price change)** | $(146) | | **Fair value (10% price increase)** | $(190) | | **Fair value (10% price decrease)** | $(102) | [Item 4. Controls and Procedures](index=64&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that disclosure controls and procedures were effective as of March 31, 2023, with no material changes in internal control over financial reporting during Q1 2023 - The company's management, including its principal executive and financial officers, concluded that disclosure controls and procedures were effective as of the end of the period[316](index=316&type=chunk)[319](index=319&type=chunk) - No changes in internal controls over financial reporting occurred during Q1 2023 that have materially affected, or are reasonably likely to materially affect, these controls[317](index=317&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=65&type=section&id=Item%201.%20Legal%20Proceedings.) The company is involved in various legal proceedings, including environmental matters with potential sanctions over **$0.3 million**, which are not expected to materially impact financial statements - The company is a defendant in various legal proceedings arising from normal business activities, including regulatory and environmental matters[321](index=321&type=chunk) - Specific disclosed matters include Notices of Violation from the EPA regarding facilities in Louisiana and Texas, a civil penalty demand related to a Colorado gas plant, and Notices of Enforcement from the Texas Commission on Environmental Quality The company does not expect these to be material[323](index=323&type=chunk)[326](index=326&type=chunk) [Item 1A. Risk Factors](index=65&type=page&id=Item%201A.%20Risk%20Factors.) This section refers investors to the comprehensive risk factors detailed in the company's 2022 Annual Report on Form 10-K for understanding potential deviations from forward-looking statements - Investors are referred to the detailed risk factors disclosed in the company's 2022 Form 10-K[325](index=325&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=66&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) In Q1 2023, the company issued **18,076 preferred units** as an unregistered PIK distribution and repurchased **682,589 common units** under its buyback program - The company made a quarterly paid-in-kind (PIK) distribution of **18,076 preferred units** in Q1 2023, which was an unregistered issuance[328](index=328&type=chunk)[329](index=329&type=chunk) Issuer Purchases of Equity Securities (Q1 2023) | Program | Units Purchased | Average Price Paid per Unit | | :--- | :--- | :--- | | **2019 Buyback Program** | 682,589 | $24.89 | | **Vesting of phantom unit awards (tax withholding)** | 2,016,542 | $26.78 | [Item 3. Defaults Upon Senior Securities](index=67&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reported no defaults upon senior securities during the period - None[334](index=334&type=chunk) [Item 6. Exhibits](index=67&type=section&id=Item%206.%20Exhibits.) This section lists all exhibits filed with the Form 10-Q, including credit agreements, corporate governance documents, debt indentures, and Sarbanes-Oxley Act certifications - Key exhibits filed include the March 2023 364-Day and Multi-Year Revolving Credit Agreements and related Guaranty Agreements[351](index=351&type=chunk) - Certifications by the Co-CEOs under Sections 302 and 906 of the Sarbanes-Oxley Act are included as exhibits[352](index=352&type=chunk)