Why Units of Enterprise Products Partners Soared More Than 10% in the First Half of 2022
Units of Enterprise Products Partners (NYSE: EPD) gained about 11% in the first half of 2022, according to data provided by S&P Global Market Intelligence. That was a strong showing by the master limited partnership (MLP), especially considering that the S&P 500 tumbled more than 20% during that period.
Here's a look at the catalysts that helped fuel the MLP's strong first-half performance.
Enterprise Products Partners posted strong financial results in early 2022, partly thanks to surging oil prices. The MLP generated $1.8 billion in distributable cash flow during the first quarter, a roughly 6% improvement from the year-ago period. That was enough money to cover the company's high-yielding distribution payment by 1.8 times in the period. Because of that, the company retained a substantial amount of cash to support its continued expansion.
Source Fool.com
