Enterprise Products Partners L.P.
- Open
- 39.32
- Day high
- 39.58
- Day low
- 39.32
- Prev close
- 39.36
- Volume
- 165K
- Mkt cap
- $85.2B
- P/E (TTM)
- 13.7
- EPS (TTM)
- $2.88
- P/B
- 2.8
- P/S
- 1.5
- Yield
- 5.59%
- Per share
- $2.21
Enterprise Products Partners L.P. (EPD) is a Energy company listed on NYSE. The stock is up 24% over the past year. Drillr has 1 published research article covering EPD.
Enterprise Products Partners L.P. (EPD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EPD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.75 | $0.84 | +12.3% | $18.3B | +33.5% |
| Apr 28, 2026 | $0.71 | $0.68 | -4.8% | $14.4B | +5.7% |
| Feb 3, 2026 | $0.69 | $0.75 | +8.7% | $13.8B | +11.6% |
| Oct 30, 2025 | $0.65 | $0.61 | -6.3% | $12.0B | +1.6% |
| Feb 4, 2025 | $0.70 | $0.74 | +5.6% | $14.2B | +0.5% |
| Apr 30, 2024 | $0.67 | $0.66 | -1.3% | $14.7B | +7.8% |
| Feb 1, 2024 | $0.68 | $0.72 | +5.9% | $14.6B | +17.9% |
| Oct 31, 2023 | $0.63 | $0.60 | -4.9% | $12.0B | +2.5% |
| Aug 1, 2023 | $0.58 | $0.57 | -2.4% | $10.7B | -20.6% |
| May 2, 2023 | $0.62 | $0.63 | +1.3% | $12.4B | -13.0% |
| Feb 1, 2023 | $0.62 | $0.65 | +5.2% | $13.7B | -12.2% |
| Nov 1, 2022 | $0.62 | $0.62 | +0.0% | $15.5B | +5.7% |
EPD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 23, 2026 | TEAGUE AJdirector, officer: CO-CHIEF EXECUTIVE OFFICER | Buy | 2,665 | $37.55 |
| Feb 18, 2026 | Weitzel Harrydirector, officer: EVP, GENERAL COUNSEL & SEC | Option | 23,750 | — |
| Feb 18, 2026 | Nelly Christian M.officer: EVP-FIN/SUSTAIN. AND TREASURER | Option | 22,750 | — |
| Feb 18, 2026 | Nelly Christian M.officer: EVP-FIN/SUSTAIN. AND TREASURER | Option | 23,125 | — |
| Feb 18, 2026 | TEAGUE AJdirector, officer: CO-CHIEF EXECUTIVE OFFICER | Option | 77,500 | — |
| Feb 18, 2026 | Nelly Christian M.officer: EVP-FIN/SUSTAIN. AND TREASURER | Tax | 7,634 | $36.75 |
| Feb 18, 2026 | Nelly Christian M.officer: EVP-FIN/SUSTAIN. AND TREASURER | Tax | 8,362 | $36.75 |
| Feb 18, 2026 | BACHMANN RICHARD Hdirector | Tax | 32,858 | $36.75 |
| Feb 18, 2026 | WILLIAMS RANDA DUNCANdirector, 10 percent owner: | Tax | 189,667 | $36.75 |
| Feb 18, 2026 | Boss Danielofficer: EXECUTIVE VICE PRESIDENT & CFO | Tax | 9,543 | $36.75 |
| Feb 18, 2026 | Hanley Michael C.officer: EVP & Chief Commercial Officer | Tax | 3,690 | $36.75 |
| Feb 18, 2026 | Boss Danielofficer: EXECUTIVE VICE PRESIDENT & CFO | Tax | 9,100 | $36.75 |
| Feb 18, 2026 | Hanley Michael C.officer: EVP & Chief Commercial Officer | Tax | 3,444 | $36.75 |
| Feb 18, 2026 | Boss Danielofficer: EXECUTIVE VICE PRESIDENT & CFO | Option | 20,675 | — |
| Feb 18, 2026 | TEAGUE AJdirector, officer: CO-CHIEF EXECUTIVE OFFICER | Tax | 30,497 | $36.75 |
Source: EPD SEC Form 4 filings, latest Mar 23, 2026. For informational purposes only — not investment advice.
See the full EPD insider & 13F page →Enterprise Products Partners L.P. company profile
Overview
Enterprise Products Partners L.P. (NYSE:EPD) is one of North America's largest midstream energy companies, founded in 1968 and headquartered in Houston, Texas. The company went public in 1998 and operates as a master limited partnership (MLP), providing critical infrastructure services that connect energy producers with consumers across the United States. Enterprise has built an extensive network of pipelines, processing facilities, storage terminals, and export facilities that handle natural gas, natural gas liquids, crude oil, and refined petroleum products. With over 50,000 miles of pipelines and storage capacity exceeding 260 million barrels, the company serves as a vital link in America's energy supply chain, moving approximately 13 million barrels of oil equivalent per day and exporting over 2 million barrels per day of liquid hydrocarbons to international markets.
Business
Enterprise Products Partners operates in the midstream energy sector, which serves as the critical infrastructure bridge between upstream energy production (oil and gas drilling) and downstream consumption (refineries and end users). The midstream sector involves the transportation, storage, processing, and marketing of hydrocarbons after they are extracted from the ground but before they reach refineries or consumers. The company operates through four primary business segments: 1. NGL Pipelines & Services (largest segment): This segment processes raw natural gas to extract valuable natural gas liquids (NGLs) such as ethane, propane, butane, and natural gasoline. Enterprise operates 19 natural gas processing facilities across Colorado, Louisiana, Mississippi, New Mexico, Texas, and Wyoming. The extracted NGLs are then transported through dedicated pipelines to fractionation facilities where they are separated into individual products. These products are stored in massive underground caverns and above-ground tanks before being distributed to petrochemical companies, heating fuel distributors, and export terminals. This segment represents approximately 40-45% of total revenues. 2. Crude Oil Pipelines & Services: This segment operates an extensive network of crude oil pipelines that gather oil from production sites and transport it to refineries, storage facilities, and export terminals. The company also operates crude oil storage terminals and maintains a fleet of 255 tractor-trailer tank trucks for local transportation. Additionally, Enterprise engages in crude oil marketing activities, buying and selling oil to optimize pipeline utilization and capture market opportunities. This segment accounts for roughly 30-35% of revenues. 3. Natural Gas Pipelines & Services: This segment operates natural gas pipeline systems that gather, treat, and transport natural gas from production areas to distribution points. The company leases underground salt dome storage facilities in Louisiana and owns storage caverns in Texas, providing critical supply management services. Enterprise also markets natural gas to utilities, industrial users, and other customers. This segment represents approximately 15-20% of revenues. 4. Petrochemical & Refined Products Services: This segment operates specialized facilities including propylene fractionation plants, butane isomerization complexes, and octane enhancement facilities. The company also operates refined products pipelines and terminals, ethylene export terminals, and provides marine transportation services. Most notably, this segment includes two propane dehydrogenation (PDH) plants that convert propane into propylene, a key petrochemical feedstock. This segment accounts for roughly 10-15% of revenues.
Revenue model
Enterprise Products Partners generates revenue through multiple complementary business models centered around fee-based services and commodity marketing. The company's primary revenue streams include: Fee-Based Services: The majority of Enterprise's income comes from charging fees for transportation, storage, and processing services. Customers pay tariffs to move their hydrocarbons through Enterprise's pipelines, fees to store products in the company's facilities, and processing fees to extract NGLs from raw natural gas. These services typically operate under long-term contracts with minimum volume commitments, providing stable, predictable cash flows that are largely insulated from commodity price volatility. Commodity Marketing and Trading: Enterprise buys and sells hydrocarbons to optimize the utilization of its infrastructure assets and capture market arbitrage opportunities. The company purchases crude oil, natural gas, and NGLs from producers, then resells these products to refineries, petrochemical companies, and export customers. While this business model carries more commodity price risk, it also provides opportunities for higher margins during favorable market conditions. Product Sales: The petrochemical segment manufactures and sells propylene, isobutane, and octane enhancement products. The company's two PDH plants convert propane feedstock into higher-value propylene, which is sold to petrochemical manufacturers for plastic production. Enterprise's customers include major oil and gas producers, refineries, petrochemical companies, utilities, and international trading companies. The company serves both domestic and international markets, with significant export operations to Asia, Europe, and the Americas. Several factors influence Enterprise's profitability margins. Positive margin drivers include increased domestic energy production (particularly from shale formations like the Permian Basin), growing demand for U.S. energy exports, infrastructure bottlenecks that increase the value of transportation services, and the company's integrated asset base that allows for operational synergies. Negative margin pressures can arise from commodity price volatility affecting marketing operations, regulatory changes impacting pipeline operations, competition from alternative transportation methods, economic downturns reducing energy demand, and operational disruptions at key facilities such as the PDH plants.
Competitive moat
Enterprise Products Partners possesses a strong economic moat built primarily on its extensive midstream infrastructure network and strategic geographic positioning. The company's competitive advantages include: Network Effects and Scale: Enterprise operates one of the most comprehensive midstream networks in North America, with over 50,000 miles of pipelines connecting major production basins to key consumption and export markets. This integrated network creates significant barriers to entry, as competitors would need to invest tens of billions of dollars and obtain numerous permits to replicate similar coverage. The company's scale also provides operational efficiencies and negotiating power with customers and suppliers. Strategic Asset Location: Enterprise's infrastructure is strategically positioned in high-growth production areas like the Permian Basin and along the Gulf Coast, which serves as America's primary energy export hub. The company's export terminals and deepwater access provide critical links to international markets, particularly in Asia where demand for U.S. energy products continues growing. High Switching Costs: Once producers connect their operations to Enterprise's gathering systems and processing facilities, switching to alternative providers involves significant costs and operational disruptions. Long-term contracts with minimum volume commitments further entrench customer relationships. Regulatory Barriers: Building new midstream infrastructure requires extensive environmental permitting, right-of-way acquisitions, and regulatory approvals that can take years to obtain. These regulatory hurdles protect Enterprise's existing asset base from new competition. However, the moat faces potential challenges from alternative transportation methods such as rail and trucking, regulatory changes affecting pipeline operations or environmental standards, technological disruptions in energy production or consumption patterns, and large-scale infrastructure projects by well-capitalized competitors. The transition toward renewable energy also poses long-term risks, though the company's natural gas and petrochemical operations should remain relevant for decades as natural gas serves as a transition fuel and petrochemicals remain essential for manufacturing.
Risks & safety
Enterprise Products Partners demonstrates a solid margin of safety with strong financial fundamentals and conservative capital structure management. • Debt and Solvency: Total debt principal of $31.9 billion with consolidated leverage ratio of 3.1x EBITDA, well within the company's target range of 3.0x ± 0.25x. Strong interest coverage with EBITDA of $9.9 billion versus interest expenses. • Cash Generation: Robust distributable cash flow of $7.8 billion in 2024 with 1.7x distribution coverage ratio, indicating substantial cash retention for growth investments and debt reduction. • Liquidity Position: Current ratio near 1.0x with $583 million in cash and access to credit facilities, though working capital management requires attention given the commodity-intensive business model. • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 11.5x, EV/EBITDA of 10.4x, and price-to-book of 2.4x, suggesting fair valuation relative to cash generation capabilities. • Other Considerations: MLP structure provides tax advantages but limits access to certain institutional investors. Strong free cash flow generation of $3.6 billion provides flexibility for capital allocation between growth investments, debt reduction, and unitholder returns.
Recent development
Over the past few years, Enterprise Products Partners has executed a comprehensive growth strategy focused on Permian Basin expansion and international export capabilities. The company has invested heavily in natural gas processing infrastructure, completing multiple processing plants in the Permian to capture growing production of rich natural gas that contains valuable NGLs. Major Infrastructure Investments: Enterprise has completed construction of several key projects including new gas processing facilities, the 12th NGL fractionation train at its Mont Belvieu complex, and expansions of export terminals. The company currently has $6.7 billion of growth projects under construction, with most scheduled for completion by the end of 2025. Strategic Acquisitions: The company acquired Piñon Midstream to expand its treating services capabilities and purchased joint venture interests in the Midland to ECHO 1 crude oil pipeline system, strengthening its position in the Permian Basin. Export Market Development: Enterprise has aggressively expanded its international presence, setting a goal to export over 100 million barrels of hydrocarbons monthly by 2027. The company has contracted with new customers in Vietnam for ethane exports and continues expanding its LPG export capabilities, with 43% of exports currently going to China. Technology and Innovation: The company has developed internal data science capabilities, using advanced analytics for predictive maintenance, market analysis, and asset optimization. This technological focus aims to improve operational efficiency and reduce maintenance costs. Petrochemical Challenges and Recovery: Enterprise's PDH plants faced significant operational challenges, with extended maintenance periods affecting profitability. However, the company has worked to stabilize these operations and expects them to contribute positively to future earnings.
EPD company profile · for informational purposes only — not investment advice.
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