Enterprise Products Partners L.P. $EPD Stock Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,246,436 shares of the oil and gas producer’s stock after selling 126,801 shares during the period. Enterprise Products Partners accounts for 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 26th largest holding. Maryland State Retirement & Pension System owned 0.06% of Enterprise Products Partners worth $44,386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EPD. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $37,000. Hughes Financial Services LLC raised its holdings in Enterprise Products Partners by 43.7% in the 3rd quarter. Hughes Financial Services LLC now owns 1,006 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 306 shares during the period. Lynch Investment Planning LLC bought a new position in Enterprise Products Partners in the 3rd quarter worth $36,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares during the last quarter. Finally, Markowski Investments acquired a new position in Enterprise Products Partners during the 2nd quarter worth $46,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $37.26 on Thursday. The stock’s 50 day simple moving average is $37.39 and its 200-day simple moving average is $37.43. The company has a current ratio of 0.93, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a market cap of $80.36 billion, a PE ratio of 12.34, a P/E/G ratio of 1.42 and a beta of 0.48. Enterprise Products Partners L.P. has a 1 year low of $31.35 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Enterprise Products Partners had a return on equity of 21.41% and a net margin of 10.24%. The firm had revenue of $17.95 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same period last year, the business earned $0.61 earnings per share. Enterprise Products Partners’s quarterly revenue was up 49.3% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.05 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 74.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. dropped their price objective on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Truist Financial increased their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Friday, October 30th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.18.

Enterprise Products Partners Profile

Enterprise Products Partners (NYSE: EPD) is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers. The company’s assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.