Private Harbour Investment Management Counsel Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Private Harbour Investment Management Counsel reduced its stake in Enterprise Products Partners L.P. by 6.34% during the most recent quarter end. The investment management company now holds a total of 55,882 shares of Enterprise Products Partners L.P. which is valued at $1,525,579 after selling 3,784 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Enterprise Products Partners L.P. makes up approximately 1.23% of Private Harbour Investment Management Counsel’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth reduced its stake in EPD by selling 2,025 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 196,219 shares of EPD which is valued at $5,356,779. Enterprise Products Partners L.P. makes up approx 0.21% of Boston Private Wealth’s portfolio.Duff Phelps Investment Management Co boosted its stake in EPD in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 2,000,800 shares of Enterprise Products Partners L.P. which is valued at $56,962,776. Enterprise Products Partners L.P. makes up approx 0.84% of Duff Phelps Investment Management Co’s portfolio. Baker Ellis Asset Management added EPD to its portfolio by purchasing 4,000 company shares during the most recent quarter which is valued at $113,880. Enterprise Products Partners L.P. makes up approx 0.03% of Baker Ellis Asset Management’s portfolio.Murphy Capital Management Inc reduced its stake in EPD by selling 6,436 shares or 3.88% in the most recent quarter. The Hedge Fund company now holds 159,527 shares of EPD which is valued at $4,712,428. Enterprise Products Partners L.P. makes up approx 0.71% of Murphy Capital Management Inc’s portfolio.Gierl Augustine Investment Management Inc reduced its stake in EPD by selling 1,291 shares or 95.91% in the most recent quarter. The Hedge Fund company now holds 55 shares of EPD which is valued at $1,631.

Enterprise Products Partners L.P. closed down -0.52 points or -1.90% at $26.78 with 57,34,645 shares getting traded on Thursday. Post opening the session at $27.08, the shares hit an intraday low of $26.7 and an intraday high of $27.54 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.. Bernstein Initiated Enterprise Products Partners L.P. on May 11, 2016 to “Outperform”, Price Target of the shares are set at $33.

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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