Enterprise Products Partners Beats on Q4 EPS

It was a year to remember for Enterprise Products Partners (NYSE: EPD  ) . The energy midstream specialist released its fourth-quarter and fiscal 2013 results, with several line items notching all-time highs in the latter period. For the quarter, revenue was slightly more than $13 billion, bettering the $11.1 billion in the same period the previous year. Attributable net income was $699 million ($0.75 per diluted unit), against fourth-quarter 2012's $616 million ($0.68).

Analysts had expected a per-unit net of $0.71. 

For the full year, Enterprise Products Partners posted a top line of $47.7 billion, notably higher than the $42.6 billion it reaped in 2012. Attributable net was $2.6 billion, or $2.82 per diluted unit, with both figures being new fiscal year records. Attributable net in 2012 was $2.4 billion ($2.71 per diluted unit). 

In the press release announcing the news, company CEO Michael Creel said the improvements were due to "record volumes in our fee-based businesses attributable to production growth and from strong domestic and international demand for [natural gas liquids], particularly from the U.S. petrochemical industry."

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  • Report this Comment On February 02, 2014, at 12:05 AM, ddemee01 wrote:

    I've owned EPD & KMP since 6-4-2013, bought EPD@ $59.36, KMP around $80.00 and very pleased. I didn't see one article by Fool.com that said to buy EPD. There are higher Dividend Yield MLP's but lack the performance for the last 5 years with a $0.70 div. pd. quarterly. Both EPD & KMP have raised their dividends almost every quarter in the last 2-3 years, KMP@ $1.36 div. pd. quarterly. Two other Oil & Gas stocks I own are an ETN, MLPL $1.37 div. pd. quarterly and MILLPRC price @$26.04-10.75% Div. Yield, Div. pd. $0.67 until 2017 or longer. Both EPD and MLPL did very well in 2013.

    D. King

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4/16/2014 4:05 PM
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Enterprise Product… CAPS Rating: *****