Enterprise Products Partners L.P. (NYSE:EPD) is one of the Jim Cramer Says Trump’s Angry At Everybody & Discusses These 11 Stocks.
Enterprise Products Partners L.P. (NYSE:EPD) is an oil and gas midstream company that works with natural gas, petrochemicals, crude oil, and other petroleum products and derivatives. Cramer’s comments about the firm revolved around ethane which is turning out to be a key material in the US-China trade discussions. In a May appearance, he had outlined that the US could use ethylene production to its advantage as China bought copious amounts from America and needed it for plastics production. However, his recent remarks about Enterprise Products Partners L.P. (NYSE:EPD) revealed that the Chinese had switched to alternative ethane producers:
“Look Rusty [Rusty Braziel, RBN Energy chairman] said last night that the US is trying to hold China hostage on ethane. Ethane’s been stopped, we make a lot of ethane because of natural gas liquids. But the Chinese just switched to other countries. So the companies that are being hurt . . . .that’s. . .Enterprise Product Partners, that’s a lot of ethane. It’s not ethane versus rare minerals. Carl, ethane is a little less rare than rare, okay.”
Aerial view of a refinery tower surrounded by the sprawling landscape of pipelines in an oil & gas midstream facility.
Cramer had also commented on ethane and Enterprise Products Partners L.P. (NYSE:EPD) in April. Here’s what he had said back then:
“Okay, now, people are selling this thing because they have a lot of ethane business. They have a lot of certain natural gas liquids that are really stalled right here. I say don’t worry about it. This is actually a fantastic chance to buy.”
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Disclosure: None. This article is originally published at Insider Monkey.
