This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Enterprise Reports Results For The Third Quarter Of 2012

Enterprise’s distributable cash flow for the third quarter of 2012 provided 1.3 times coverage of the cash distributions that will be paid on November 8, 2012 to unitholders of record on October 31, 2012. Excluding the benefit from the litigation settlement and the loss from the interest rate hedges, distributable cash flow for the third quarter of 2012 would have been $789 million and provided 1.4 times coverage of the cash distributions declared with respect to the quarter. The partnership retained $177 million of distributable cash flow for the third quarter of 2012, which is available to reinvest in growth capital projects, reduce debt, and decrease the need to issue additional equity.

Revenues for the third quarter of 2012 were $10.5 billion compared to $11.3 billion for the same quarter of 2011 primarily attributable to lower commodity prices, which more than offset the effect of higher overall volumes. Certain of Enterprise’s revenues and operating costs and expenses can fluctuate significantly based on the prices of natural gas, NGLs, crude oil, petrochemicals and refined products without necessarily affecting operating income, gross operating margin and distributable cash flow to the same degree.

Review of Segment Performance for the Third Quarter of 2012

NGL Pipelines & Services – Gross operating margin for the NGL Pipelines & Services segment increased $68 million, or 12 percent, to $616 million for the third quarter of 2012 compared to $548 million for the same quarter of 2011.

Enterprise’s natural gas processing and related NGL marketing business generated gross operating margin of $352 million for the third quarter of 2012 compared to $348 million for the third quarter of 2011. This $4 million increase was largely due to higher NGL sales margins, commodity hedging results associated with our natural gas processing activities and higher fee-based natural gas processing volumes, which more than offset the effect of lower equity NGL production and prices. Our natural gas processing plants reported record fee-based processing volumes of 4.5 Bcfd. Equity NGL production (the NGLs that Enterprise earns title to as a result of providing processing services) was 99 MBPD for the third quarter of 2012 compared to 114 MBPD for the third quarter of 2011.

4 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs