Company Update (NYSE:EPD): Enterprise Products Partners L.P. Offering Additional Capacity on Aegis Ethane Pipeline System

Enterprise Products Partners L.P. (NYSE:EPD) announced it will be conducting a binding open commitment period to gauge shipper support for a proposed expansion of the Aegis pipeline. The 270-mile Aegis system is designed to transport purity ethane from Enterprise’s Mont Belvieu, Texas liquids storage complex to petrochemical facilities in Texas and Louisiana.

The initial 60-mile segment from Mont Belvieu to Beaumont, Texas began service in September of 2014, followed by the 48-mile portion from Beaumont to Lake Charles, Louisiana in September of 2015. The remainder of the Aegis pipeline, which will extend to the Mississippi River corridor area, is on schedule for completion by the end of 2015.

The incremental capacity being offered reflects the continued strong interest in the Aegis pipeline and marks the second supplemental open season to expand the system. The expanded capabilities of the Aegis system, which are being achieved by the addition of pumps and related infrastructure, is expected to come online in stages through 2019, depending on the level of customer commitments.  (Original Source)

Shares of Enterprise Products Partners closed yesterday at $27.61. EPD has a 1-year high of $40.12 and a 1-year low of $22.01. The stock’s 50-day moving average is $26.52 and its 200-day moving average is $29.01.

On the ratings front, EPD has been the subject of a number of recent research reports. In a report issued on October 20, Deutsche Bank analyst Greg Poole maintained a Buy rating on EPD, with a price target of $32, which represents a potential upside of 15.9% from where the stock is currently trading. Separately, on July 31, Wunderlich Securities’ Jeffrey Birnbaum maintained a Buy rating on the stock .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Greg Poole and Jeffrey Birnbaum have a total average return of 4.5% and -11.0% respectively. Poole has a success rate of 58.6% and is ranked #525 out of 3808 analysts, while Birnbaum has a success rate of 15.0% and is ranked #3523.

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.



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