Enbridge Energy Partners, L.P.
EEP
New York Stock Exchange10.43
USD
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- -
CUSIP
29250R106
Return %
Stock
S&P500
1Y
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19.43
3Y
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76.01
5Y
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74.94
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Energy
- Industry
- Oil & Gas Energy
- Address
- 915 N Eldridge Parkway, Suite 1100, Houston, TX 77079, USA Houston TX United States of America 77079
- IPO Date
- Dec 20, 1991
- Similar Companies
- Business
- Enbridge Energy Partners, L.P. (EEP) operates as a midstream energy company primarily engaged in the transportation, distribution, and storage of crude oil, natural gas, and natural gas liquids across North America. The partnership owns and operates extensive interstate and intrastate crude oil and natural gas pipeline systems; gas gathering, processing, and transmission networks; and related terminal and storage facilities, serving producers, refiners, and utilities in key producing basins including the Permian, Bakken, and Marcellus shale regions. Its core assets include the Lakehead System for light crude oil transport from western Canada to U.S. Midwest refineries; the Mainline System for heavy crude from Alberta oil sands; and natural gas operations through subsidiaries like Midcoast Energy Partners, with a focus on fee-based contracts ensuring stable cash flows. Founded in 1991 and headquartered in Houston, Texas, Enbridge Energy Partners historically functioned as a master limited partnership (MLP) sponsored by Enbridge Inc., a Canadian energy infrastructure giant that held a controlling interest. The company's geographic footprint spans the United States and Canada, with pipelines traversing 17 states and provinces, targeting upstream producers, midstream marketers, and downstream consumers in energy-intensive markets. In a pivotal strategic shift in 2019, Enbridge Inc. acquired the remaining publicly traded common units of Enbridge Energy Partners in a $17.8 billion transaction, effectively delisting EEP from the NYSE and fully integrating its U.S. operations under Enbridge (U.S.) Inc. as of September 2019, streamlining corporate structure and eliminating MLP complexities amid favorable tax and financing conditions. This reorganization enhanced operational synergies with Enbridge's broader network, including expansions in renewable energy storage and carbon capture initiatives launched in 2023-2024. Recent developments include the 2024 commissioning of the Gray Oak Pipeline expansion adding 175,000 barrels per day capacity to Gulf Coast refineries and a strategic alliance with TC Energy for joint Midwest gas transmission upgrades announced in early 2025.