Scotiabank Maintains a Buy Rating on Enterprise Products

By Carrie Williams

In a report issued on March 9, Richard Roberts from Scotiabank maintained a Buy rating on Enterprise Products (NYSE: EPD), with a price target of $33. The company’s shares closed last Friday at $27.58.

According to, Roberts is a 1-star analyst with an average return of -0.9% and a 30.0% success rate. Roberts covers the Basic Materials sector, focusing on stocks such as Antero Midstream Partners, Holly Energy Partners LP, and Rice Midstream Partners.

Enterprise Products has an analyst consensus of Moderate Buy.

Based on Enterprise Products’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $6.74 billion and quarterly net profit of $656 million. In comparison, last year the company earned revenue of $6.16 billion and had a net profit of $683 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EPD in relation to earlier this year. Last month, James T. Hackett, a Director at EPD bought 33,000 shares for a total of $945,450.

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Enterprise Products Partners LP is a holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following reportable segments: NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services; Petrochemical & Refined Products Services; and Offshore Pipelines & Services. The NGL Pipelines & Services segment manages natural gas processing plants. The Crude Oil Pipelines & Services segment stores and markets crude oil products. The Natural Gas Pipelines & Services segment stores and transports natural gas. The Petrochemical & Refined Products Services segment offers propylene fractionation, butane isomerization complex, octane enhancement, and refined products. The Offshore Pipelines & Services segment manages and operates deepwater production fields. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX.