Enterprise Products Partners L.P.’s (NYSE:EPD) operating subsidiary, Enterprise Products Operating LLC (“EPO”), recently modified its 364-Day Revolving Credit Agreement.
EPO has extended the maturity date of the facility to Sep 2017. Per the terms of the modified facility, this Enterprise Products Partners unit may borrow up to $1.5 billion, which may be increased by up to $200 million to $1.7 billion if it considers that necessary.
Enterprise Products Partners, a leading master limited partnership (MLP), provides a wide range of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGL), and crude oil.
The partnership's assets include about 49,000 miles of onshore and offshore pipelines, approximately 225 million barrels of storage capacity for NGLs, refined products and crude oil. It also boasts a 14 billion cubic feet of natural gas storage capacity.
Enterprise Products Partners is viewed as a core holding in an MLP portfolio, given its string of organic growth projects, potential acquisitions, strong balance sheet and solid liquidity position. The partnership is one of the largest fully integrated midstream service providers with a positive long-term outlook and significant geographic and business diversity.
Enterprise Products Partners continues to increase its Eagle Ford shale exposure so as to capitalize on the NGL market dynamics. The Eagle Ford Shale continues to be one of the main growth vehicles of the partnership and helps to offset volume weakness in other regions of the Mid-Continent. The partnership has several projects planned for this region, including an expanded gas processing facility at Yoakum, with a total processing capacity of over 140,000 barrels a day. This makes it one of the major NGL producing plants in North America.
Enterprise Products Partners currently carries a Zacks Rank #3 (Hold). Some better-ranked players from the energy sector are Matador Resources Company (NYSE:MTDR) , NGL Energy Partners LP (NYSE:NGL) and Enviva Partners L.P. (NYSE:EVA) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
ENTERPRISE PROD (EPD): Free Stock Analysis Report
NGL ENERGY PART (NGL): Free Stock Analysis Report
MATADOR RESOURC (MTDR): Free Stock Analysis Report
ENVIVA PARTNERS (EVA): Free Stock Analysis Report
Original post