Enterprise Products Partners L.P. (NYSE:EPD) announced that the partnership has increased the loading rate at its liquefied petroleum gas (“LPG”) export terminal on the Houston Ship Channel from 16,500 barrels per hour (“BPH”) to approximately 27,500 BPH of capacity. The incremental capacity was achieved through the completion of a new refrigeration train that increases loading capabilities at the terminal from 9 million barrels (“MMBbls”) per month to 16 MMBbls per month of LPG, which equates to a total of approximately 29 vessels per month.

“This terminal serves as the premier LPG export facility in the U.S. and the timing of these expansion projects could not have been better,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “In addition to meeting the growing international demand for price-advantaged, domestic LPG, the terminal also benefits producers by providing market access and facilitating continued development of U.S. energy supplies.”

The LPG terminal expansion is among $7.8 billion in capital growth projects Enterprise expects to complete and bring into service by the end of 2017. These projects, which are supported by long-term contracts, are primarily focused on meeting the needs of demand-side customers, such as petrochemical plants, refineries and international businesses. (Original Source)

Shares of Enterprise Products Partners opened today at $24.46 and are currently trading down at $24.375. EPD has a 1-year high of $37.19 and a 1-year low of $20.76. The stock’s 50-day moving average is $24.70 and its 200-day moving average is $26.87.

On the ratings front, Enterprise Products Partners has been the subject of a number of recent research reports. In a report issued on November 16, Deutsche Bank analyst Greg Poole maintained a Buy rating on EPD, with a price target of $30, which implies an upside of 22.6% from current levels. Separately, on November 2, Oppenheimer’s Bernard Colson assigned a Buy rating to the stock and has a price target of $33.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Greg Poole and Bernard Colson have a total average return of 5.0% and -4.3% respectively. Poole has a success rate of 57.8% and is ranked #394 out of 3662 analysts, while Colson has a success rate of 40.6% and is ranked #3493.

Enterprise Products Partners LP is a energy company. It provides services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil and certain petrochemicals.