Enterprise Products Partners Closed Last Week with Marginal Gains
EPD’s price performance
In comparison, NYMEX near-month WTI (West Texas Intermediate) crude oil futures price surged 3.5% week-over-week. Crude oil had fallen 6.3% in the previous week ended May 5.
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EPD’s 1Q17 earnings
On May 2, 2017, Enterprise Products Partners reported its 1Q17 results. The partnership reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.4 billion for the quarter, 6.6% higher compared to its adjusted EBITDA in 1Q16.
EPD’s 1Q17 results were driven by higher liquid pipeline and marine terminal volumes.
On April 5, 2017, Enterprise Products Partners announced a distribution of $0.42 per unit for 1Q17. This distribution represented a 1.2% rise over its last quarter’s distribution of $0.41 per unit and a 5.1% rise year-over-year.
Enterprise Products Partners is trading nearly flat year-to-date (or YTD). In comparison, Plains All American Pipeline (PAA) has fallen 15%, and AMLP has fallen nearly 3% YTD. ONEOK (OKE) has fallen 11% during the same period.
In this series, we’ll take a look at EPD’s key technical indicators, short interest, and valuation. We’ll also discuss EPD’s expected price range for the current week based on its implied volatility.