Houston midstream giant’s net income rises to $1.35B, cuts capex by $1B

Houston-based Enterprise Products Partners LP (NYSE: EPD) had a strong first quarter, despite it ending with the energy downturn. The midstream giant is now taking steps to respond to the current economic conditions and ongoing pandemic.

Enterprise reported $1.35 billion in net income attributable to limited partners, up 7% from the first quarter of 2019, or 61 cents per unit on a fully diluted basis. That included an aggregate $187 million, or 8 cents per unit, of deferred income tax benefits,…


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