Pointe Capital Management Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Pointe Capital Management reduced its stake in Enterprise Products Partners L.P. by 3.81% during the most recent quarter end. The investment management company now holds a total of 221,641 shares of Enterprise Products Partners L.P. which is valued at $6,314,552 after selling 8,783 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Enterprise Products Partners L.P. makes up approximately 4.55% of Pointe Capital Management’s portfolio.

Other Hedge Funds, Including , Narwhal Capital Management boosted its stake in EPD in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 46,275 shares of Enterprise Products Partners L.P. which is valued at $1,318,375. Enterprise Products Partners L.P. makes up approx 0.40% of Narwhal Capital Management’s portfolio.Sanders Morris Harris boosted its stake in EPD in the latest quarter, The investment management firm added 2,697 additional shares and now holds a total of 586,540 shares of Enterprise Products Partners L.P. which is valued at $16,710,525. Enterprise Products Partners L.P. makes up approx 4.22% of Sanders Morris Harris’s portfolio.Dearborn Partners reduced its stake in EPD by selling 762 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 12,193 shares of EPD which is valued at $360,181. Enterprise Products Partners L.P. makes up approx 0.03% of Dearborn Partners’s portfolio.Independent Portfolio Consultants boosted its stake in EPD in the latest quarter, The investment management firm added 75 additional shares and now holds a total of 4,200 shares of Enterprise Products Partners L.P. which is valued at $124,362. Enterprise Products Partners L.P. makes up approx 0.04% of Independent Portfolio Consultants’s portfolio.

Enterprise Products Partners L.P. opened for trading at $28.2 and hit $28.48 on the upside on Friday, eventually ending the session at $28.47, with a gain of 0.04% or 0.01 points. The heightened volatility saw the trading volume jump to 30,10,599 shares. Company has a market cap of $59,261 M.

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.. Bernstein Initiated Enterprise Products Partners L.P. on May 11, 2016 to “Outperform”, Price Target of the shares are set at $33.Seaport Global Securities Downgraded Enterprise Products Partners L.P. on Apr 29, 2016 to ” Neutral”, Price Target of the shares are set at $30.

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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