Enterprise Products Partners L.P. (NYSE:EPD) announced the election of directors constituting the board of its general partner, Enterprise Products Holdings LLC (“Enterprise GP”). Richard H. Bachmann was elected non-executive vice chairman of the board of Enterprise GP. The board of Enterprise GP also elected W. Randall Fowler as president of the general partner and restructured the management group known as the Office of the Chairman.

Directors of the board of Enterprise GP are Randa Duncan Williams, non-executive chairman; Mr. Bachmann; A. J. “Jim” Teague, chief executive officer of Enterprise GP; Mr. Fowler; Carin M. Barth; F.Christian Flach; James T. Hackett; Charles E. McMahen; William C. Montgomery; and Richard S. Snell.

The governance committee members of the board are Mr. Hackett, chair of the committee, Ms. Barth and Ms. Williams. The audit and conflicts committee members are Mr. McMahen, chair of the committee, Mr.Montgomery and Mr. Snell.

Mr. Bachmann is president and chief executive officer of privately held Enterprise Products Company(“EPCO”) and has served as a director of EPCO since 1999. Affiliates of EPCO own approximately 34 percent of the limited partner units of Enterprise and own Enterprise GP. Mr. Bachmann previously served as executive vice president and chief legal officer of Enterprise GP and its affiliated predecessors from 1999 until 2010. Mr. Bachmann was a director of Enterprise GP and its affiliated predecessors from 2000 until 2004 and from 2006 until 2014.

Mr. Fowler has served as a director of Enterprise GP since 2011 and as executive vice president and chief financial officer of Enterprise GP and its affiliated predecessors from 2007 until 2015. He also serves as chief administrative officer and a director of EPCO. He joined Enterprise in 1999.

The board of Enterprise GP also restructured the Office of the Chairman to consist of Ms. Williams, Mr. Bachmann, Mr. Teague and Mr. Fowler. (Original Source)

Shares of Enterprise Products Partners closed yesterday at $26.21, down $0.23 or -0.87%. EPD has a 1-year high of $36.20 and a 1-year low of $20.76. The stock’s 50-day moving average is $24.60 and its 200-day moving average is $26.69.

On the ratings front, Enterprise Products has been the subject of a number of recent research reports. In a report issued on November 16, Deutsche Bank analyst Greg Poole maintained a Buy rating on EPD, with a price target of $30, which implies an upside of 14.5% from current levels. Separately, on November 2, Oppenheimer’s Bernard Colson assigned a Buy rating to the stock and has a price target of $33.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Greg Poole and Bernard Colson have a total average return of 4.7% and -3.9% respectively. Poole has a success rate of 56.3% and is ranked #372 out of 3647 analysts, while Colson has a success rate of 42.0% and is ranked #3424.

Enterprise Products Partners LP is a energy company. It provides services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil and certain petrochemicals.