Maryland State Retirement & Pension System Purchases 21,916 Shares of Enterprise Products Partners L.P. $EPD

Maryland State Retirement & Pension System increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,366,687 shares of the oil and gas producer’s stock after purchasing an additional 21,916 shares during the quarter. Enterprise Products Partners accounts for approximately 0.9% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 20th largest position. Maryland State Retirement & Pension System owned 0.06% of Enterprise Products Partners worth $43,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Arete Wealth Advisors LLC lifted its position in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares during the period. ORG Wealth Partners LLC lifted its holdings in shares of Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after acquiring an additional 317 shares during the last quarter. Walker Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.7% in the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after acquiring an additional 326 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 330 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $36.49 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The business’s fifty day moving average is $37.96 and its 200 day moving average is $35.75. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a market cap of $78.88 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insider Activity

In other news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EPD. Jefferies Financial Group increased their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Citigroup reissued a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.67.

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.