Insider Buying: Enterprise Products Partners (NYSE:EPD) CEO Buys 2,665 Shares of Stock

Enterprise Products Partners L.P. (NYSE:EPD) CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Enterprise Products Partners Trading Up 1.5%

Enterprise Products Partners stock traded up $0.57 during trading hours on Monday, hitting $38.13. The stock had a trading volume of 3,209,900 shares, compared to its average volume of 4,642,750. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The stock has a market cap of $82.43 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.50 and a beta of 0.58. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $38.22. The business’s 50 day simple moving average is $35.33 and its 200-day simple moving average is $32.96.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same period last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 82.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its position in Enterprise Products Partners by 19.9% in the 4th 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 in the last quarter. Schnieders Capital Management LLC. grew its stake in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after acquiring an additional 3,742 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Enterprise Products Partners by 2.8% during the second quarter. Bahl & Gaynor Inc. now owns 14,751 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 400 shares in the last quarter. Finally, Tableaux LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth approximately $59,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EPD shares. Scotiabank raised their price target on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 17th. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, January 14th. Barclays increased their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.14.

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.