January 31, 2017 [OPIS] - Enterprise Products Partners reported Monday an increase in 2016 operating income to $3.6 billion from $3.5 billion in 2015. The company posted a decline in income for the fourth quarter of 2016 to $923 million from $935 million in 4Q 2015.
The partnership’s fully diluted earnings per unit dipped to $1.20 for 2016 from $1.26 in 2015 and declined to 31 cents in the fourth-quarter from 34 cents in the fourth quarter of 2015.
Enterprise reported that NGL, crude oil, refined products and petrochemical pipeline volumes rose in the fourth quarter to 5.3 million barrels a day vs 5 million b/d in 4Q 2015. NGL fractionation volume was flat at 846,000 barrels a day in the fourth quarter.
“Enterprise reported solid results in 2016, despite another challenging year for the U.S. energy industry,” said Jim Teague, Chief Executive Officer of Enterprise’s general partner. He added that the performance for the partnership in 2016 was highlighted by an 11.7% volume growth for its NGL, refined products and petrochemical pipeline and marine terminal assets to a “record 4.6 million barrels a day.”
