Maryland State Retirement & Pension System Sells 29,784 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Maryland State Retirement & Pension System lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,197,937 shares of the oil and gas producer's stock after selling 29,784 shares during the quarter. Enterprise Products Partners makes up about 0.8% of Maryland State Retirement & Pension System's holdings, making the stock its 22nd largest position. Maryland State Retirement & Pension System owned approximately 0.06% of Enterprise Products Partners worth $37,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Compass Ion Advisors LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth $205,000. Enhancing Capital LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth $281,000. Generali Asset Management SPA SGR purchased a new position in Enterprise Products Partners in the fourth quarter worth $122,000. Evoke Wealth LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth $226,000. Finally, Advisors Asset Management Inc. boosted its position in Enterprise Products Partners by 48.5% in the fourth quarter. Advisors Asset Management Inc. now owns 123,069 shares of the oil and gas producer's stock worth $3,859,000 after purchasing an additional 40,198 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Barclays upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average price target of $35.90.

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Enterprise Products Partners Stock Down 1.2 %

EPD stock traded down $0.42 on Friday, reaching $33.69. 5,731,334 shares of the company traded hands, compared to its average volume of 4,138,293. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $72.95 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm has a fifty day simple moving average of $33.41 and a 200-day simple moving average of $31.56.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.72 EPS. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

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.