Summary
Enterprise Products Partners L.P. (EPD) filed an 8-K on December 20, 2018, to report on the completion of its common unit repurchase program. The partnership announced in December 1998 that it and its affiliates could repurchase up to an aggregate of 4,000,000 common units. As of September 30, 2018, there were 1,236,800 units remaining under this program. During the three months ending December 31, 2018, EPD purchased the entire remaining 1,236,800 common units under the repurchase program. The repurchases were executed through open market transactions on the New York Stock Exchange, with the final purchase in December 2018 occurring at an average price of $24.9248 per unit. This filing indicates the conclusion of a long-standing unit repurchase initiative.
Key Highlights
- 1EPD completed its common unit repurchase program, buying back the remaining 1,236,800 authorized units.
- 2The repurchases occurred during the three months ending December 31, 2018.
- 3All units were bought through open market transactions on the NYSE.
- 4The program, initially announced in December 1998, had a total authorized repurchase of 4,000,000 common units.
- 5The final purchase in December 2018 was at an average price of $24.9248 per unit.
- 6This filing signifies the full utilization and conclusion of the 1998 repurchase authorization.