Enterprise Products Partners L.P.: 26 Consecutive Years of Distribution Growth
SAN FRANCISCO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Enterprise Products Partners L.P. (: EPD) is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, refined products and petrochemicals.
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Advisor Access spoke with Jim Teague, Enterprise Products Partners’ co-CEO, about the company’s business environment and outlook, plans for future growth and the company’s financial strength.
Advisor Access: Would you introduce Enterprise Products Partners to our readers?
Jim Teague: EPD is one of the largest publicly traded partnerships and a leading provider of midstream energy infrastructure services. Our roots date back to 1968 when Dan Duncan and two partners formed Enterprise Products Company, a wholesale marketer of natural gas liquids. Since our IPO in 1998, Enterprise has delivered over two decades of strategic growth, responsible operations, and attractive returns to unitholders.
With an A-rated balance sheet, 26 consecutive years of distribution growth, and over 7% yield, Enterprise stands apart as a consistent and compelling investment throughout economic and business cycles.
AA: What are midstream energy services and how do characterize your business model?
JT: We operate energy infrastructure – pipelines, terminals, and processing assets – that provide critical, must-run energy services. We handle natural gas, natural gas liquids (NGLs), crude oil, refined products and primary petrochemicals…
AA: Enterprise has $6.7 billion in major capital projects under construction. What are these projects and how do these support future cash flow growth and capital returns to unitholders?
JT: The majority of our growth capital projects fall under our NGL segment, our largest business segment…
AA: 2024 marks Enterprise’s 26th consecutive year of distribution increases. How are you able to accomplish this remarkable run?
JT: Our management owns approximately 33% of our limited partner units. In other words, “we eat our own cooking.” We think in decades, not quarters. This long-term mindset has enabled us to build a reliable business with essential services that our customers can count on…
AA: Many view the U.S. energy market as in transition – how do you think about the future and where do you see opportunities and challenges for Enterprise?
JT: We think globally. Energy security, reliability and affordability continue to be the preeminent themes in energy markets…
…AA: Thank you for your insights, Jim.
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