Morgan Stanley Downgrades Enterprise Products Partners L.P. to Equal-weight with Price Target $30.00

Brokerage firm Morgan Stanley Downgrades its rating on Enterprise Products Partners L.P.(NYSE:EPD). In a research note issued to the investors, the brokerage major Lowers the price-target to $30.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Aug 18, 2016.

Enterprise Products Partners L.P. (EPD) made into the market gainers list on Mondays trading session with the shares advancing 0.04% or 0.01 points. Due to strong positive momentum, the stock ended at $26.6, which is also near the day’s high of $26.66. The stock began the session at $26.6 and the volume stood at 28,18,801 shares. The 52-week high of the shares is $30.105 and the 52 week low is $19. The company has a current market capitalization of $55,715 M and it has 2,09,45,40,000 shares in outstanding.

Enterprise Products Partners L.P.(EPD) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.62B. Analysts had an estimated revenue of $5.65B. Earnings per share were $0.28. Analysts had estimated an EPS of $0.31.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Randa Duncan Williams (director 10% owner) purchased 10,000 shares at $24.00 per share price.Also, On Feb 17, 2016, Carin Marcy Barth (director) purchased 5,000 shares at $20.52 per share price.On Feb 11, 2016, William C Montgomery (director) purchased 10,000 shares at $19.69 per share price, according to the Form-4 filing with the securities and exchange commission.

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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