Enterprise Products Partners Pick of the Week at Smart Insider Following John Rutherford's Stock Purchase
MT Newswires Live
Aug 05
Enterprise Products Partners (EPD) was Smart Insider's stock pick of the week after the company's non-executive John Rutherford purchased $470,000 worth of company shares at $31.35 apiece on July 29, raising his ownership by 10%.
Rutherford has a "good record" in the stock purchase, and waited until 2020 to make his first buy at $19.22 per share before subsequently making a series of purchases into rising prices, Smart Insider said in a Tuesday note.
This was Rutherford's second largest stock purchase and the highest price he has paid, the note said, adding that it is "notable that he's now buying in larger-than-average size at this higher price."
Smart Insider ranked the stock +1, or strong positive signal, on July 30.
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