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Enterprise Products Partners generated enough cash in the fourth quarter to pay its dividend 1.3 times over, the company announced Monday.
The steady dividend has been Kinder Morgan’s hallmark since it went public in February 2011.
The postponement is a surprising reversal from last week, when the Houston-based producers said it hoped to raise at least $237.5 million.
Minus the $537 million loss from its MLP, Houston’s energy transmission company said it had a $146 million net income gain for the quarter, up slightly from $143 million during the same period last year.
The project, an about $115 million outlay, will allow the company to fill Panamax-sized ships or barges with a 40-foot draft at its existing terminal at Galena Park, Texas.
Environmental activism is a major reason no new pipelines — including Keystone XL — have been built to transport oil sands crude away from Alberta since 2010, according to a new report.
The transaction is part of BP’s bid to cut costs and centralize its storage operations in the United States.
During the second quarter, analysts at PwC tracked 47, $50 million-or-larger oil and gas deals, totaling $38.8 billion.
In a call with investors on Thursday, Phillips 66 revealed that it will postpone plans for at least a year to build a condensate splitter and second fractionator at its Sweeny refinery.
Kinder Morgan’s board said it would raise the dividend to 48 cents per share, up 14 percent from the prior year’s Q1 payout of 42 cents per share.