Maryland State Retirement & Pension System Decreases Position in Enterprise Products Partners L.P. $EPD

Maryland State Retirement & Pension System decreased its position in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,307,298 shares of the oil and gas producer’s stock after selling 59,389 shares during the period. Enterprise Products Partners comprises approximately 1.0% of Maryland State Retirement & Pension System’s portfolio, making the stock its 20th biggest holding. Maryland State Retirement & Pension System owned 0.06% of Enterprise Products Partners worth $49,468,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EPD. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at about $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $31,000. Daytona Street Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $45,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $37.77 on Wednesday. The business’s 50-day moving average price is $37.63 and its 200 day moving average price is $36.41. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a market capitalization of $81.66 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly 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). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Jefferies Financial Group increased their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and a consensus target price of $40.13.

Check Out Our Latest Analysis on Enterprise Products Partners

Enterprise Products Partners Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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