Enterprise Products Partners L.P. $EPD Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,344,771 shares of the oil and gas producer’s stock after acquiring an additional 35,201 shares during the quarter. Enterprise Products Partners makes up approximately 0.9% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 22nd largest position. Maryland State Retirement & Pension System’s holdings in Enterprise Products Partners were worth $42,051,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Energy Income Partners LLC raised its holdings in shares of Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after acquiring an additional 1,834,659 shares during the last quarter. Northside Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth $47,628,000. Corient Private Wealth LLC raised its position in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the period. Eagle Global Advisors LLC increased its stake in Enterprise Products Partners by 42.2% during the third quarter. Eagle Global Advisors LLC now owns 2,931,052 shares of the oil and gas producer’s stock worth $91,654,000 after purchasing an additional 870,103 shares during the period. Finally, HRT Financial LP increased its stake in Enterprise Products Partners by 118.1% during the 2nd quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock worth $47,401,000 after buying an additional 827,780 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Trading Up 0.8%

Shares of Enterprise Products Partners stock opened at $32.88 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The business has a 50 day moving average price of $32.13 and a 200 day moving average price of $31.65. The company has a market capitalization of $71.13 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.31 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the prior year, the company earned $0.65 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners declared that its Board of Directors has approved a share buyback plan on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 83.02%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EPD. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Monday, December 1st. Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Thursday, December 18th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.

Enterprise Products Partners Company Profile

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.