Fayez Sarofim Co buys $505,505,747 stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Fayez Sarofim Co scooped up 344,401 additional shares in Enterprise Products Partners L.P. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 18,577,940 shares of Enterprise Products Partners L.P. which is valued at $505,505,747.Enterprise Products Partners L.P. makes up approximately 2.73% of Fayez Sarofim Co’s portfolio.

Other Hedge Funds, Including , Monroe Bank Trustmi sold out all of its stake in EPD during the most recent quarter. The investment firm sold 4,600 shares of EPD which is valued $125,166.Tci Wealth Advisors reduced its stake in EPD by selling 734 shares or 48.48% in the most recent quarter. The Hedge Fund company now holds 780 shares of EPD which is valued at $21,013. Enterprise Products Partners L.P. makes up approx 0.01% of Tci Wealth Advisors’s portfolio.Noesis Capital Mangement Corp reduced its stake in EPD by selling 1,520 shares or 6.9% in the most recent quarter. The Hedge Fund company now holds 20,500 shares of EPD which is valued at $557,600. Enterprise Products Partners L.P. makes up approx 0.24% of Noesis Capital Mangement Corp’s portfolio.Private Harbour Investment Management Counsel reduced its stake in EPD by selling 3,784 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 55,882 shares of EPD which is valued at $1,525,579. Enterprise Products Partners L.P. makes up approx 1.23% of Private Harbour Investment Management Counsel’s portfolio. Guild Investment Management sold out all of its stake in EPD during the most recent quarter. The investment firm sold 67,180 shares of EPD which is valued $1,913,958.

Enterprise Products Partners L.P. closed down -0.21 points or -0.78% at $26.81 with 74,47,277 shares getting traded on Friday. Post opening the session at $26.95, the shares hit an intraday low of $26.47 and an intraday high of $27.25 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Enterprise Products Partners L.P. reported $0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.31. The company had revenue of $5617.80 million for the quarter, compared to analysts expectations of $5756.71 million. The company’s revenue was down -20.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Enterprise Products Partners L.P.. Enterprise Products Partners L.P. was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 18, 2016.

Enterprise Products Partners L.P. is a provider of midstream energy services to producers and consumers of natural gas natural gas liquids (NGLs) crude oil petrochemicals and refined products. The Company operates in five segments: NGL Pipelines & Services segment includes its natural gas processing plants and related NGL marketing activities; Onshore Natural Gas Pipelines & Services segment includes approximately 19300 miles of onshore natural gas pipeline systems; Onshore Crude Oil Pipelines & Services segment includes approximately 5400 miles of onshore crude oil pipelines crude oil storage terminals; Offshore Pipelines & Services segment serves drilling and development regions including deepwater production fields and Petrochemical & Refined Products Services segment includes propylene fractionation and related operations including approximately 680 miles of pipelines. Its asset portfolio includes 24 natural gas processing plants and 22 NGL and propylene fractionators.

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