Stock Update (NYSE:EPD): Enterprise Products Partners L.P. Contracts Its First Export of U.S. Crude Oil

Enterprise Products Partners L.P. (NYSE:EPD) announced that it has agreed to provide pipeline and marine terminal services to load its first export of crude oil produced in the United States under the law enacted earlier this month. The 600,000 barrel cargo of domestic light crude oil is scheduled to load at the Enterprise Hydrocarbon Terminal (EHT) on the Houston Ship Channel during the first week of January 2016.

“We are excited to announce our first contract to export U.S. crude oil, which to our knowledge may be the first export cargo of U.S. crude oil from the Gulf Coast in almost 40 years,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “Enterprise’s integrated system enabled us to quickly respond to customer demand for U.S. crude oil by international markets.”

“We applaud the actions of Congress and President Obama to remove the ban on U.S. crude oil exports,” stated Teague. “This law facilitates economic growth and job creation for the United States as well as enhances our national and energy security. This action provides new markets to domestic producers, especially producers of light crude oil, and will provide global markets with supply diversification.”

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United Statesinland and Intracoastal Waterway systems. The partnership’s assets include approximately 49,000 miles of pipelines; 225 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. (Original Source)

Shares of Enterprise Products Partners opened today at $25.4 and are currently trading down at $25.18. 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 $24.99 and its 200-day moving average is $27.04.

On the ratings front, Enterprise Products 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 18.1% from current levels. Separately, on October 29, Wunderlich Securities’ Jeffrey Birnbaum maintained a Buy rating on the stock and has a price target of $35.

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 4.8% and -18.7% respectively. Poole has a success rate of 56.6% and is ranked #393 out of 3649 analysts, while Birnbaum has a success rate of 14.3% 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.

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