126,801 Enterprise Products Partners L.P. $EPD Shares Sold by Maryland State Retirement & Pension System

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

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 6.8% in the 3rd quarter. Alps Advisors Inc. now owns 46,611,995 shares of the oil and gas producer’s stock valued at $1,659,853,000 after buying an additional 2,956,939 shares in the last quarter. Energy Income Partners LLC acquired a new position in Enterprise Products Partners during the second quarter worth $508,461,000. Bank of America Corp DE bought a new position in shares of Enterprise Products Partners during the second quarter valued at $416,553,000. BlackRock Inc. bought a new position in shares of Enterprise Products Partners during the second quarter valued at $255,325,000. Finally, Berkley W R Corp acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $250,887,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.4%

Shares of EPD opened at $37.26 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.93. The company has a market cap of $80.36 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.42 and a beta of 0.48. The stock has a fifty day moving average price of $37.39 and a two-hundred day moving average price of $37.43. Enterprise Products Partners L.P. has a 52-week low of $31.35 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced 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 company had revenue of $17.95 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 49.3% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 3.05 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. 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. Truist Financial lifted their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a report on Friday, October 30th. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. Melius Research started coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.