Maryland State Retirement & Pension System Has $35.77 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Maryland State Retirement & Pension System cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,234,297 shares of the oil and gas producer’s stock after selling 8,978 shares during the period. Enterprise Products Partners comprises approximately 0.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 25th largest holding. Maryland State Retirement & Pension System owned approximately 0.06% of Enterprise Products Partners worth $35,770,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $28,000. Finally, MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the second quarter valued at about $37,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.3 %

NYSE EPD traded up $0.09 during trading hours on Friday, reaching $29.34. 2,558,561 shares of the company’s stock were exchanged, compared to its average volume of 4,555,431. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $63.71 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company’s 50-day moving average is $29.16 and its two-hundred day moving average is $28.67. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EPD. JPMorgan Chase & Co. cut their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

About Enterprise Products Partners

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.