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The natural gas partnership acquired a 51 membership percent interest in Enterprise Texas Pipeline LLC, a 51 percent general partnership interest in Enterprise Intrastate LP and a 66 percent general partnership interest in Enterprise GC LP. Duncan Energy paid Enterprise $280.5 million in cash, which was funded by a three-year bank term loan. The company also issued Enterprise 37.3 million of Duncan Energy Class B stocks at a market value of $449.50 million. Duncan Energy said in 2009 it expects to receive a cash return from these ownership interests of around 12 percent, or $87 million. This would boost distributable cash flow of 12 cents per share for all common and Class B shares, a 7.1 percent uptick from its current distribution rate to partners of $1.68 per share. Shares of Duncan Energy rose 44 cents, or 3.7 percent, to close at $12.48 on Monday. FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net . Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 . http://www.financialwire.net For full details on Duncan Energy Partners L.P. (DEP) click here. Duncan Energy Partners L.P. (DEP) has Short Term PowerRatings of 6. Details on Duncan Energy Partners L.P. (DEP) Short Term PowerRatings is available at This Link.
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