Evanson Asset Management Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Evanson Asset Management reduced its stake in Enterprise Products Partners L.P. by 3.2% during the most recent quarter end. The investment management company now holds a total of 108,366 shares of Enterprise Products Partners L.P. which is valued at $3,201,132 after selling 3,578 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Enterprise Products Partners L.P. makes up approximately 0.94% of Evanson Asset Management’s portfolio.

Other Hedge Funds, Including , 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.Cutler Group Lp boosted its stake in EPD in the latest quarter, The investment management firm added 11,729 additional shares and now holds a total of 46,300 shares of Enterprise Products Partners L.P. which is valued at $1,373,258. Enterprise Products Partners L.P. makes up approx 0.09% of Cutler Group Lp’s portfolio.Keel Point boosted its stake in EPD in the latest quarter, The investment management firm added 504 additional shares and now holds a total of 80,332 shares of Enterprise Products Partners L.P. which is valued at $2,382,647. Enterprise Products Partners L.P. makes up approx 1.00% of Keel Point’s portfolio.Webster Bank N. A. boosted its stake in EPD in the latest quarter, The investment management firm added 177 additional shares and now holds a total of 8,634 shares of Enterprise Products Partners L.P. which is valued at $256,084. Enterprise Products Partners L.P. makes up approx 0.04% of Webster Bank N. A.’s portfolio.

Enterprise Products Partners L.P. opened for trading at $29.38 and hit $29.64 on the upside on Wednesday, eventually ending the session at $29.54, with a gain of 0.48% or 0.14 points. The heightened volatility saw the trading volume jump to 17,59,879 shares. Company has a market cap of $61,488 M.

On the company’s financial health, Enterprise Products Partners L.P. reported $0.33 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.33. The company had revenue of $5005.00 million for the quarter, compared to analysts expectations of $6853.38 million. The company’s revenue was down -33.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.34 EPS.

Investors should note that on Jul 7, 2016, Enterprise Products Partners L.P. announced a cash dividend of $0.4000. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 5, 2016.

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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