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

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Enterprise Products Partners L.P. by 6.3% during the 2nd quarter, owning a total of 1,309,570 shares valued at approximately $40.61 million.
• Enterprise Products Partners reported $0.66 earnings per share for the last quarter, which was below analysts' expectations of $0.67, with revenues declining 15.7% year-over-year.
• The company announced a quarterly dividend of $0.545 per share set to be paid on November 14th, translating to an annualized dividend yield of 6.9%.

Maryland State Retirement & Pension System grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,309,570 shares of the oil and gas producer's stock after purchasing an additional 77,937 shares during the period. Enterprise Products Partners makes up 0.9% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 22nd largest position. Maryland State Retirement & Pension System owned 0.06% of Enterprise Products Partners worth $40,610,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Alps Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Enterprise Products Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock valued at $375,662,000 after purchasing an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock valued at $171,022,000 after purchasing an additional 81,135 shares during the last quarter. BROOKFIELD Corp ON boosted its position in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock worth $160,416,000 after buying an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after buying an additional 1,717,768 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.2%

Enterprise Products Partners stock opened at $31.66 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market cap of $68.55 billion, a PE ratio of 11.77, a P/E/G ratio of 2.25 and a beta of 0.64. The stock's fifty day moving average is $31.58 and its two-hundred day moving average is $31.44.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm's quarterly revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners's payout ratio is 81.04%.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery bought 16,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Stifel Nicolaus lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average target price of $35.75.

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.

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