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

Enterprise Products Partners L.P. (EPD) : Novare Capital Management reduced its stake in Enterprise Products Partners L.P. by 5.55% during the most recent quarter end. The investment management company now holds a total of 379,351 shares of Enterprise Products Partners L.P. which is valued at $10,219,716 after selling 22,300 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Enterprise Products Partners L.P. makes up approximately 2.68% of Novare Capital Management’s portfolio.

Other Hedge Funds, Including , Samson Capital Management reduced its stake in EPD by selling 16,101 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 654,554 shares of EPD which is valued at $18,026,417. Enterprise Products Partners L.P. makes up approx 17.02% of Samson Capital Management’s portfolio.Summit Equities Inc boosted its stake in EPD in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 42,422 shares of Enterprise Products Partners L.P. which is valued at $1,153,878. Enterprise Products Partners L.P. makes up approx 0.31% of Summit Equities Inc’s portfolio.Ipswich Investment Management reduced its stake in EPD by selling 1,500 shares or 11.7% in the most recent quarter. The Hedge Fund company now holds 11,324 shares of EPD which is valued at $309,145. Enterprise Products Partners L.P. makes up approx 0.15% of Ipswich Investment Management’s portfolio.Evercore Wealth Management reduced its stake in EPD by selling 20,922 shares or 7.21% in the most recent quarter. The Hedge Fund company now holds 269,437 shares of EPD which is valued at $7,355,630. Enterprise Products Partners L.P. makes up approx 0.32% of Evercore Wealth Management’s portfolio.

Enterprise Products Partners L.P. opened for trading at $27.39 and hit $27.56 on the upside on Wednesday, eventually ending the session at $27.56, with a gain of 0.62% or 0.17 points. The heightened volatility saw the trading volume jump to 32,61,060 shares. Company has a market cap of $57,726 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.. 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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