Maryland State Retirement & Pension System Buys 16,642 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Maryland State Retirement & Pension System increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,223,829 shares of the oil and gas producer’s stock after buying an additional 16,642 shares during the quarter. Enterprise Products Partners comprises about 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 27th biggest position. Maryland State Retirement & Pension System owned approximately 0.06% of Enterprise Products Partners worth $32,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Enterprise Products Partners during the third quarter valued at about $43,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $48,000. Community Bank N.A. lifted its position in shares of Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth about $53,000. Finally, Headinvest LLC bought a new stake in Enterprise Products Partners in the 3rd quarter worth about $62,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock remained flat at $28.37 during mid-day trading on Tuesday. 3,295,802 shares of the company were exchanged, compared to its average volume of 4,960,596. The stock has a 50-day moving average of $28.66 and a two-hundred day moving average of $27.36. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm has a market cap of $61.51 billion, a P/E ratio of 11.12 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.26%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EPD shares. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Scotiabank raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.