BB&T Investment Services Inc. Invests $190,000 in Enterprise Products Partners L.P. (EPD)

BB&T Investment Services Inc. acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,032 shares of the oil and gas producer’s stock, valued at approximately $190,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Karp Capital Management Corp bought a new position in shares of Enterprise Products Partners L.P. during the first quarter valued at approximately $502,000. Intellectus Partners LLC boosted its stake in shares of Enterprise Products Partners L.P. by 8.0% during the first quarter. Intellectus Partners LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 399 shares in the last quarter. Segment Wealth Management LLC boosted its stake in shares of Enterprise Products Partners L.P. by 6.8% during the first quarter. Segment Wealth Management LLC now owns 268,492 shares of the oil and gas producer’s stock valued at $7,413,000 after purchasing an additional 17,067 shares in the last quarter. Heritage Trust Co bought a new position in shares of Enterprise Products Partners L.P. during the first quarter valued at approximately $225,000. Finally, Edgemoor Investment Advisors Inc. boosted its stake in shares of Enterprise Products Partners L.P. by 14.3% during the first quarter. Edgemoor Investment Advisors Inc. now owns 236,015 shares of the oil and gas producer’s stock valued at $6,516,000 after purchasing an additional 29,455 shares in the last quarter. Hedge funds and other institutional investors own 37.56% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.731% during midday trading on Friday, reaching $26.465. 2,944,258 shares of the company’s stock traded hands. Enterprise Products Partners L.P. has a 1-year low of $24.01 and a 1-year high of $30.25. The stock has a market capitalization of $56.85 billion, a P/E ratio of 20.822 and a beta of 0.90. The firm’s 50-day moving average price is $26.12 and its 200 day moving average price is $26.75.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post $1.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st will be issued a $0.4225 dividend. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 6.34%. Enterprise Products Partners L.P.’s dividend payout ratio is presently 132.28%.

A number of research firms have recently issued reports on EPD. BMO Capital Markets set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Thursday. Seaport Global Securities began coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday. They set a “neutral” rating and a $29.00 price objective on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Friday, September 15th. Jefferies Group LLC dropped their price objective on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Enterprise Products Partners L.P. presently has an average rating of “Buy” and a consensus target price of $30.99.

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About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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