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Enterprise (EPD) Rewards Unit Holders With Distribution Hike
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Enterprise Products Partners LP (EPD - Free Report) has announced approvals from the board of directors of its general partner to increase quarterly cash distribution.
The second-quarter 2023 cash distribution of 50 cents per unit will be paid to common unitholders on Aug 14, 2023, marking a hike of 2% from the prior-quarter figure and 5.3% from the year-ago quarter. The increased distribution will be paid to unitholders of record as of the close of business on Jul 31, 2023. Check Enterprise Products’ distribution history here>>>
Enterprise Products Partners L.P. Distribution (TTM)
This reflects Enterprise Products’ strong focus on returning capital to unitholders, and this year marks a milestone of raising distribution for 25 successive years. The positive developments have been possible since Enterprise Products, currently carrying a Zacks Rank #3 (Hold), has a stable business model and is not significantly exposed to the volatility in oil and gas prices. It generates stable fee-based revenues from its extensive pipeline network that spreads across more than 50,000 miles, transporting natural gas, natural gas liquids (NGLs), crude oil petrochemicals and refined products.
The midstream infrastructure provider has storage assets that can hold more than 260 million barrels of NGL, petrochemical, refined products and crude oil. These assets can store 14 billion cubic feet of natural gas.
Enterprise Products has $6.1 billion of major capital projects under construction, which are likely to provide incremental fee-based revenues. This, in turn, is securing future cash distributions for the unitholders.
Through its ownership interests in onshore oil and natural gas properties in the United States, Evolution Petroleum is touted as a key independent energy player.
With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues. Kinder Morgan is poised to grow on the back of its business model, which is relatively resilient to volume and commodity price risks.
The royalty interest production figures of PHX MINERALS, for the last four reported figures, depict significant improvement. With new wells coming online in the prolific Haynesville Shale and Bakken plays, PHX MINERALS is witnessing a production increase in royalty volumes.
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Enterprise (EPD) Rewards Unit Holders With Distribution Hike
Enterprise Products Partners LP (EPD - Free Report) has announced approvals from the board of directors of its general partner to increase quarterly cash distribution.
The second-quarter 2023 cash distribution of 50 cents per unit will be paid to common unitholders on Aug 14, 2023, marking a hike of 2% from the prior-quarter figure and 5.3% from the year-ago quarter. The increased distribution will be paid to unitholders of record as of the close of business on Jul 31, 2023. Check Enterprise Products’ distribution history here>>>
Enterprise Products Partners L.P. Distribution (TTM)
Enterprise Products Partners L.P. distribution-ttm | Enterprise Products Partners L.P. Quote
This reflects Enterprise Products’ strong focus on returning capital to unitholders, and this year marks a milestone of raising distribution for 25 successive years. The positive developments have been possible since Enterprise Products, currently carrying a Zacks Rank #3 (Hold), has a stable business model and is not significantly exposed to the volatility in oil and gas prices. It generates stable fee-based revenues from its extensive pipeline network that spreads across more than 50,000 miles, transporting natural gas, natural gas liquids (NGLs), crude oil petrochemicals and refined products.
The midstream infrastructure provider has storage assets that can hold more than 260 million barrels of NGL, petrochemical, refined products and crude oil. These assets can store 14 billion cubic feet of natural gas.
Enterprise Products has $6.1 billion of major capital projects under construction, which are likely to provide incremental fee-based revenues. This, in turn, is securing future cash distributions for the unitholders.
Better-ranked players in the energy space include Evolution Petroleum Corporation (EPM - Free Report) , Kinder Morgan, Inc. (KMI - Free Report) and PHX MINERALS INC. (PHX - Free Report) . While Evolution Petroleum sports a Zacks Rank #1 (Strong Buy), Kinder Morgan and PHX MINERALS carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Through its ownership interests in onshore oil and natural gas properties in the United States, Evolution Petroleum is touted as a key independent energy player.
With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues. Kinder Morgan is poised to grow on the back of its business model, which is relatively resilient to volume and commodity price risks.
The royalty interest production figures of PHX MINERALS, for the last four reported figures, depict significant improvement. With new wells coming online in the prolific Haynesville Shale and Bakken plays, PHX MINERALS is witnessing a production increase in royalty volumes.