Key Points
- Director John Rutherford bought 15,000 shares on Dec. 29 at an average price of $32.09, spending $481,350 and boosting his stake to 173,586 shares (a 9.46% increase).
- Enterprise pays a quarterly dividend of $0.545 (annualized $2.18, yield 6.8%, DPR 82.26%) and its Board approved a $5.0 billion share buyback program (about 7.4% of shares outstanding).
- The company reported Q3 EPS of $0.61, missing the $0.68 consensus and posting revenue of $12.02 billion (down 12.7% year-over-year); analysts expect ~2.9 EPS for the current year.
Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) Director John Rutherford acquired 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director owned 173,586 shares of the company's stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Enterprise Products Partners Stock Up 0.1%
Shares of NYSE EPD opened at $31.92 on Tuesday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53. The firm's 50-day moving average is $31.79 and its 200-day moving average is $31.56. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.04 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The company's quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 82.26%.
Enterprise Products Partners announced that its Board of Directors has approved a share repurchase program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have issued reports on EPD. Scotiabank reduced their target price on 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. reissued a "neutral" rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. Citigroup restated a "buy" rating and set a $36.00 price objective (up previously from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Morgan Stanley lowered 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 report on Thursday, December 18th. Finally, UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average price target of $35.64.
Get Our Latest Stock Report on Enterprise Products Partners
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantum Financial Planning Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth about $310,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer's stock valued at $4,703,000 after purchasing an additional 9,979 shares during the last quarter. Westbourne Investment Advisors Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $657,000. Corigliano Investment Advisers LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $4,384,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Enterprise Products Partners by 1.6% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer's stock valued at $60,702,000 after buying an additional 31,652 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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Get Free Report)
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.
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