Enterprise Products Partners LP (EPD)

[pete807]

Enterprise Announces $2 Billion Unit Buyback

“It was just fifteen months ago that we announced our plan to transition away from the MLP externally-dependent financing model with a goal of self-funding the equity portion of our growth capital investments,” said A.J. “Jim” Teague, chief executive officer of the general partner of Enterprise. “I am pleased to announce that we accomplished this objective a year early by self-funding over 50 percent of our 2018 growth capital investments and acquisitions of approximately $4 billion. To position Enterprise to return more capital to investors, we believed the first step was to become equity self-funding and to strengthen our credit metrics. We believe the authorization of a new buyback program gives us another ‘tool in the toolbox’ to opportunistically return capital to investors.”

https://finance.yahoo.com/news/enterprise-announces-2-billion-unit-110000853.html