Enterprise Products Partners oversees over 50,000 miles of pipelines to transport oil, gas, and liquefied natural gas. The partnership has increased its annual distribution to shareholders for 25 consecutive years.
Enterprise Products Partners is a major player in the energy transportation and storage market, with a vast network of pipelines and storage facilities. The company reported strong financial performance in the first quarter of 2024, with revenue increasing by 18.6% year-over-year. Enterprise Products Partners has low leverage and offers a high yield, making it an attractive investment for those seeking stability and cash flow.
Enterprise Financial Services' net interest income decreased in the first quarter due to increased non-interest expenses and a minor contraction in net interest margins. The bank's loan book is mainly focused on commercial and industrial loans and commercial real estate. The preferred shares of Enterprise Financial offer a 6.5% dividend yield and remain an interesting investment option.
I'm looking to further concentrate my portfolio in 2024 and Enterprise Products Partners is among my top candidates for additional investment. EPD's adjusted EBITDA and operational DCF grew in the first quarter. The midstream operator's leverage ratio was just 3 in the trailing twelve months ended March 31.