Midstream company Enterprise Products Partners hit a record high of total volume of natural gas transported in its first quarter due to its investments in natural gas.
Enterprise generated roughly $1.1 billion it can now pay to investors as dividends in the quarter, or roughly enough to pay its dividend 1.3 times over. The company reported a net income of $670 million in its opening quarter, which is roughly over $19 million more than the same period last year.
Petroleum products and chemicals transported moved up to 852,000 barrels per day in the first quarter, compared to 738,000 barrels last year. Natural gas pipeline transportation volumes were 3.0 million barrels per day in the first quarter, compared to 2.4 million barrels in the same quarter last year.
Enterprise reported it has a total of $4.2 billion of growth projects scheduled to be completed in the next two years. Its team continues to strive forward on multiple projects that are still in the developmental phase.
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