Jun. 13 at 6:53 PM
If you read a thesis on one or the other,
$ET or
$EPD, Energy Transfer will be characterized as the more audacious pipeline builder and serial acquirer of other LPs [usually as a minority partner]. They spend and borrow and grow aggressively. Enterprise Partners is more composed, controlled and maintains a better balance sheet.
EPD is in a select category of being S&P Global's only A- rated midstream energy infrastructure company. These energy infrastructure company's debt issues are very attractive to bond buyers and a myriad of energy infrastructure funds. These are the backbones of human society-type companies. This allows a company like EPD to have an impressive 18-year average maturity of debt at a 96% fixed rate, with a weighted average of 4.7%. That is a very long duration, very cheap debt.
https://seekingalpha.com/article/4794740-enterprise-products-peanut-butter-to-et-jelly-in-an-iran-crisis-sandwich
