Enterprise Products Partners (NYSE:EPD) Director John Rutherford Buys 15,000 Shares

Enterprise Products Partners L.P. (NYSE:EPD) Director John Rutherford purchased 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.92 on Tuesday. The firm has a market capitalization of $69.04 billion, a PE ratio of 12.04, a PEG ratio of 2.44 and a beta of 0.58. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.53. The business’s 50 day moving average is $31.79 and its 200-day moving average is $31.56.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its board has authorized a share repurchase plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $0.545 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. Enterprise Products Partners’s payout ratio is presently 82.26%.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Scotiabank lowered their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday, December 1st. Finally, Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $292,194,000. Energy Income Partners LLC increased its holdings in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after purchasing an additional 1,834,659 shares in the last quarter. Northside Capital Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $47,628,000. Corient Private Wealth LLC lifted its holdings in Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after buying an additional 1,313,976 shares in the last quarter. Finally, Berkley W R Corp boosted its position in Enterprise Products Partners by 17.9% in the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock valued at $187,620,000 after buying an additional 910,206 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.