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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: MoneyPenny who wrote (11677)	5/2/2012 8:25:10 AM
From: MoneyPenny	Respond to of 34328

DOW JONES NEWSWIRES *Enterprise Products Partners L.P.'s* (EPD:$51.69,00$0.15,000.29%) first-quarter earnings rose 55%, thanks in part to an investment gain and tax benefit, as the pipeline operator reported strong margins on its natural-gas pipelines and services. Chief Executive Michael A. Creed said that the company saw record-high operating margins on pipelines and services for natural-gas liquids and onshore natural gas. He added that these results--along with strong fee-based natural gas processing and natural-gas liquid fractionation volumes, and an increase in natural gas pipeline volumes from the Haynesville and Eagle Ford shale areas-- more than offset challenges at the company's octane enhancement facility, which was out of service for most of the quarter. Results beat analysts' expectations. Enterprise has posted soaring profits in recent quarters, thanks in part to its $3.3 billion merger with Teppco Partners L.P. in late 2009, which created one of the largest pipeline companies in the U.S. The company grew even more when it completed its roughly $2.5 billion acquisition of sister company Duncan Energy Partners L.P. in September. The company recently said it would partner with two other energy companies to build a new natural gas liquids pipeline stretching 425 miles from Colorado to Texas. Plans for the pipeline, which is expected to come online in the fourth quarter of 2013, come as low natural gas prices push energy companies to focus on higher-priced liquids. Enterprise reported a profit of $651.3 million, or 73 cents a unit, up from $ 420.7 million, or 49 cents a unit, a year earlier. The most-recent quarter included a 6 cents a unit gain from the sale of Energy Transfer Equity L.P. ( ETE) units and a 5 cents a unit tax benefit. Revenue jumped 10% to $11.25 billion. Analysts polled by Thomson Reuters recently forecast per-unit earnings of 58 cents on revenue of $11.03 billion. Operating margin widened to 6.7% from 6.1%. Enterprise's daily natural-gas liquids, crude oil, refined products and petrochemicals pipeline volume fell roughly 2% from a year earlier. Units closed Tuesday at $51.69 and were inactive premarket. The equity is up 11% so far this year. -By Kristin Jones; Dow Jones Newswires; 212-416-2208; kristin.jones@ dowjones.com (END) Dow Jones Newswires 05-02-120632ET Copyright (c) 2012 Dow Jones & Company, Inc.