Enable Midstream Partners Increases Quarterly Distribution
January 26 2015 - 6:30AM
Business Wire
Enable Midstream Partners, LP (NYSE:ENBL) today announced that
on Jan. 23, 2015, the board of directors of its general partner
declared a quarterly cash distribution of $0.30875 per unit on all
outstanding common and subordinated units for the quarter ended
Dec. 31, 2014, representing an increase of approximately 2.1
percent over the prior quarter distribution.
As noted in Enable Midstream’s third quarter earnings release
presentation and SEC filings, Enable Midstream’s gross margins are
affected by commodity price movements. Based on forward commodity
prices, Enable Midstream expects to see a change in producer
activity that will affect its future distribution growth rate.
Enable Midstream anticipates updating its guidance during its
fourth quarter earnings call on Feb. 18, 2015. Besides the impact
from forward commodity prices, Enable Midstream anticipates that it
will also provide an update related to expected producer activity
in its area of operations and any impact to its capital
spending.
The distribution will be paid Feb. 13, 2015, to unitholders of
record at the close of business on Feb. 4, 2015.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable Midstream owns, operates and develops strategically
located natural gas and crude oil infrastructure assets. The
company’s assets include approximately 11,000 miles of gathering
pipelines, 12 major processing plants with approximately 2.1
billion cubic feet per day of processing capacity, approximately
7,900 miles of interstate pipelines (including Southeast Supply
Header, LLC of which the company owns 49.90 percent), approximately
2,300 miles of intrastate pipelines and eight storage facilities
comprising 86.5 billion cubic feet of storage capacity. For more
information visit EnableMidstream.com.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat
one hundred percent (100.0%) of Enable Midstream’s distributions to
foreign investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, the partnership’s distributions to foreign investors
are subject to federal income tax withholding at the highest
applicable effective tax rate. Brokers and nominees, and not the
Partnership, are treated as the withholding agents responsible for
withholding on the distributions received by them on behalf of
foreign investors.
FORWARD-LOOKING
STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the securities laws. All statements, other
than statements of historical fact, regarding Enable Midstream
Partners’ strategy, future operations, financial position,
estimated revenues, projected costs, prospects, plans and
objectives of management are forward-looking statements. These
statements often include the words “could,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” “forecast”
and similar expressions and are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. These forward-looking
statements are based on Enable Midstream’s current expectations and
assumptions about future events and are based on currently
available information as to the outcome and timing of future
events. Enable Midstream assumes no obligation to and does not
intend to update any forward-looking statements included herein.
When considering forward-looking statements, you should keep in
mind the risk factors and other cautionary statements described
under the heading “Risk Factors” included in our SEC filings.
Enable Midstream cautions you that these forward-looking statements
are subject to all of the risks and uncertainties, most of which
are difficult to predict and many of which are beyond its control,
incident to the ownership, operation and development of natural gas
and crude oil infrastructure assets. These risks include, but are
not limited to, contract renewal risk, commodity price risk,
environmental risks, operating risks, regulatory changes and the
other risks described under “Risk Factors” in our SEC filings.
Should one or more of these risks or uncertainties occur, or should
underlying assumptions prove incorrect, Enable Midstream’s actual
results and plans could differ materially from those expressed in
any forward-looking statements.
Enable Midstream Partners, LPMedia:Brian Alford,
405-553-6984orInvestor:Matt Beasley, 405-558-4600
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