This Day On The Street
Continue to site
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

Enterprise Reports Record Results For 2012

Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) today announced its financial results for the three months and year ended December 31, 2012. For the year ended 2012, Enterprise reported records for each of the following: net income of $2.4 billion; earnings per unit of $2.71 on a fully diluted basis; gross operating margin of $4.4 billion; and distributable cash flow of $4.1 billion, which included $1.2 billion of cash proceeds from sales of assets.

“Enterprise had another record year in 2012,” stated Michael A. Creel, president and CEO of Enterprise. “We benefited from record volumes in our fee-based businesses attributable to production growth, primarily in the Eagle Ford and Haynesville shale plays, and from strong domestic and international demand for NGLs, particularly from the U.S. petrochemical industry and exports. In 2012, our integrated pipeline system transported a record 4.3 million barrels per day of NGLs, crude oil, refined products and petrochemicals and a record 14.5 trillion Btus per day of natural gas; while our NGL fractionators averaged a record 659,000 barrels per day and our processing plants handled a record 4.4 billion cubic feet per day of natural gas on a fee basis.”

“We generated $4.1 billion of distributable cash flow and increased our cash distributions with respect to 2012 by 5.6 percent to $2.57 per unit. Enterprise has increased its cash distribution rate for each of the last 34 consecutive quarters, the longest period for any of the publicly traded energy partnerships, and in excess of 5 percent for each of the last eight years. In 2012, we retained approximately $1.9 billion of cash flow to reinvest in our growth projects and reduce our need to issue additional equity. Excluding $1.2 billion of proceeds from the sales of non-core assets, our distributable cash flow was $2.9 billion, providing 1.3 times coverage of the distributions paid with respect to 2012,” said Creel.

1 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs