One of the largest MLPs, Enterprise Products Partners LP (NYSE: EPD), increased its quarterly distribution almost 7% from $0.46 in Q3 2006 to $0.49 in Q3 2007. According to the CEO, Michael Creel, it is the MLP’s 22nd distribution increase since its founding in 1998. The announcement comes ahead of EPD’s Q3 earnings announcement and subsequent analyst call on October 25th.
EPD provides a variety of midstream services including oil & natural gas transportation, gathering, processing, storage, as well as natural gas liquids (NGL) fractionation. The Houston, Texas based company has a market cap of almost $14 billion, and an enterprise value (EV) of almost $19 billion.
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