Enterprise Products Partners L.P. (NYSE: EPD) 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, natural gas liquids, crude oil, refined products and petrochemicals.

Click Here to View the EPD Investor Presentation

Advisor Access spoke with Jim Teague, Enterprise Products Partners’ co-CEO, about the company’s business environment and outlook, plans for future growth and the company’s financial strength.

Advisor Access: Would you introduce Enterprise Products Partners to our readers?

Jim Teague: EPD is one of the largest publicly traded partnerships and a leading provider of midstream energy infrastructure services. Our roots date back to 1968 when Dan Duncan and two partners formed Enterprise Products Company, a wholesale marketer of natural gas liquids. Since our IPO in 1998, Enterprise has delivered over two decades of strategic growth, responsible operations, and attractive returns to unitholders.

With an A-rated balance sheet, 26 consecutive years of distribution growth, and over 7% yield, Enterprise stands apart as a consistent and compelling investment throughout economic and business cycles.

AA: What are midstream energy services and how do characterize your business model?

JT: We operate energy infrastructure – pipelines, terminals, and processing assets – that provide critical, must-run energy services. We handle natural gas, natural gas liquids (NGLs), crude oil, refined products and primary petrochemicals…

AA: Enterprise has $6.7 billion in major capital projects under construction. What are these projects and how do these support future cash flow growth and capital returns to unitholders?

JT: The majority of our growth capital projects fall under our NGL segment, our largest business segment…

AA: 2024 marks Enterprise’s 26th consecutive year of distribution increases. How are you able to accomplish this remarkable run?

JT: Our management owns approximately 33% of our limited partner units. In other words, “we eat our own cooking.” We think in decades, not quarters. This long-term mindset has enabled us to build a reliable business with essential services that our customers can count on…

AA: Many view the U.S. energy market as in transition – how do you think about the future and where do you see opportunities and challenges for Enterprise?

JT: We think globally. Energy security, reliability and affordability continue to be the preeminent themes in energy markets…

…AA: Thank you for your insights, Jim.

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Rick Baggelaar
Rick@advisor-access.com
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