Enterprise Products Partners Raised Its 1Q17 Distribution
On April 5, 2017, Enterprise Products Partners (EPD) announced a distribution of $0.42 per unit for 1Q17. It’s an increase of 1.2% over its last distribution of $0.41 per unit last quarter and 5.1% higher year-over-year. It represents the 51st consecutive quarterly increase in Enterprise Products Partners’ distributions.
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On April 3, 2017, Enterprise Products Partners announced customer support for two of its ethylene projects. Enterprise Product Partners is “repurposing” an ethylene storage well at its Mont Belvieu complex. The project is expected to be complete by 3Q18. The second project is an ethylene pipeline from Mont Belvieu to Bayport, Texas. To learn more, read Enterprise Products Partners Focuses on Petrochemicals.
Enterprise Products Partners rose 0.9% for the week ending April 7, 2017. The Alerian MLP ETF (AMLP) rose 0.6% last week—marginally underperforming Enterprise Products Partners. In comparison, NYMEX near-month WTI crude oil futures price rose 3.2% week-over-week. Crude oil rose 5.5% in the previous week ending March 31.
In this series, we’ll take a look at Enterprise Products Partners’ key technical indicators, short interest, and valuation. We’ll also discuss Enterprise Products Partners’ expected price range for the current week based on its implied volatility.