John Rutherford Purchases 15,000 Shares of Enterprise Products Partners (NYSE:EPD) Stock

Enterprise Products Partners L.P. (NYSE:EPD) Director John Rutherford acquired 15,000 shares of the company’s stock in a transaction on Monday, December 29th. The stock was acquired at an average price 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 trade represents a 9.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Enterprise Products Partners Price Performance

EPD opened at $32.12 on Wednesday. The stock’s 50 day moving average price is $31.81 and its 200-day moving average price is $31.56. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The stock has a market capitalization of $69.48 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

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

Enterprise Products Partners announced that its Board of Directors has approved a stock buyback program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research report on Thursday, December 18th. Scotiabank lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a report on Friday, December 19th. Finally, Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Northern Trust Corp boosted its stake in Enterprise Products Partners by 99.5% during the 1st quarter. Northern Trust Corp now owns 573,525 shares of the oil and gas producer’s stock valued at $19,580,000 after purchasing an additional 285,980 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Enterprise Products Partners by 37.1% in the 1st quarter. Ieq Capital LLC now owns 60,666 shares of the oil and gas producer’s stock worth $2,071,000 after purchasing an additional 16,420 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of Enterprise Products Partners in the first quarter worth $378,000. Finally, First Manhattan CO. LLC. bought a new position in shares of Enterprise Products Partners during the first quarter valued at $13,832,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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.