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Enterprise (EPD) Closes Seaway Pipeline After Potential Leak
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According to a recent report published on Reuters, Enterprise Products Partners L.P. (EPD - Free Report) closed its Seaway crude oil pipeline last weekend after a potential leak was found.
Though the exact time of the closure of the pipeline was not mentioned, traders believe that the pipeline was shut on Mar 4. The company also informed the National Response Center of a pipeline incident in Milburn, OK, on the same day.
Per an email by the company, the Seaway line was "temporarily suspended" for repair works near the Colbert pump station in Bryan County, OK. No further details were divulged.
Currently, the Pipeline and Hazardous Materials Safety Administration is looking into the incident.
The discount for front to second month U.S. crude widened to a session low of 50 cents. This is the second accident reported of the pipeline so far this year. In January, the company shut the pipeline after a leak was reported near Trenton, TX, after it was hit by a third-party contractor.
The 400,000 barrel per day pipeline, which transports crude from Cushing, OK, to the U.S. Gulf Coast, is a joint venture between operator Enterprise Products Partners and Enbridge Inc. (ENB - Free Report) .
The Enterprise Products Partners stock has gained 8.1% in the last three months. The Zacks categorized Oil & Gas-Product Pipeline MLP market, on the other hand, has registered an increase of 8.9%.
Enterprise Products Partners is viewed as a core holding in an MLP portfolio, given its string of organic growth projects, potential acquisitions, strong balance sheet and solid liquidity position. The partnership is one of the largest fully integrated midstream service providers with a positive long-term outlook and significant geographic and business diversity.
Pioneer Natural Resources posted a positive earnings surprise of 63.33% in the preceding quarter. It had an average positive earnings surprise of 21.86% in the four trailing quarters.
Sunrun posted a positive earnings surprise of 137.21% in the preceding quarter. It beat estimates in all the four trailing quarters with an average positive earnings surprise of 134.71%.
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Enterprise (EPD) Closes Seaway Pipeline After Potential Leak
According to a recent report published on Reuters, Enterprise Products Partners L.P. (EPD - Free Report) closed its Seaway crude oil pipeline last weekend after a potential leak was found.
Though the exact time of the closure of the pipeline was not mentioned, traders believe that the pipeline was shut on Mar 4. The company also informed the National Response Center of a pipeline incident in Milburn, OK, on the same day.
Per an email by the company, the Seaway line was "temporarily suspended" for repair works near the Colbert pump station in Bryan County, OK. No further details were divulged.
Currently, the Pipeline and Hazardous Materials Safety Administration is looking into the incident.
The discount for front to second month U.S. crude widened to a session low of 50 cents. This is the second accident reported of the pipeline so far this year. In January, the company shut the pipeline after a leak was reported near Trenton, TX, after it was hit by a third-party contractor.
The 400,000 barrel per day pipeline, which transports crude from Cushing, OK, to the U.S. Gulf Coast, is a joint venture between operator Enterprise Products Partners and Enbridge Inc. (ENB - Free Report) .
The Enterprise Products Partners stock has gained 8.1% in the last three months. The Zacks categorized Oil & Gas-Product Pipeline MLP market, on the other hand, has registered an increase of 8.9%.
Enterprise Products Partners is viewed as a core holding in an MLP portfolio, given its string of organic growth projects, potential acquisitions, strong balance sheet and solid liquidity position. The partnership is one of the largest fully integrated midstream service providers with a positive long-term outlook and significant geographic and business diversity.
Enterprise Products Partners carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space include Pioneer Natural Resources Company (PXD - Free Report) and Sunrun Inc. (RUN - Free Report) . Both these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Pioneer Natural Resources posted a positive earnings surprise of 63.33% in the preceding quarter. It had an average positive earnings surprise of 21.86% in the four trailing quarters.
Sunrun posted a positive earnings surprise of 137.21% in the preceding quarter. It beat estimates in all the four trailing quarters with an average positive earnings surprise of 134.71%.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>