Starfire Investment Advisers Exits Position in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Starfire Investment Advisers has sold out all of its stake in Enterprise Products Partners L.P. during the most recent quarter, according to the disclosure filed by the company on Oct 17, 2016 with the SEC. The investment management company has sold out 16,700 shares of Enterprise Products Partners L.P. which is valued at $449,063.

Other Hedge Funds, Including , Cwm added EPD to its portfolio by purchasing 1,050 company shares during the most recent quarter which is valued at $28,235. Webster Bank N. A. sold out all of its stake in EPD during the most recent quarter. The investment firm sold 8,634 shares of EPD which is valued $232,168.Smithbridge Asset Management Incde boosted its stake in EPD in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 39,702 shares of Enterprise Products Partners L.P. which is valued at $1,067,587. Enterprise Products Partners L.P. makes up approx 0.97% of Smithbridge Asset Management Incde’s portfolio.Btr Capital Management Inc boosted its stake in EPD in the latest quarter, The investment management firm added 2,034 additional shares and now holds a total of 10,436 shares of Enterprise Products Partners L.P. which is valued at $280,624. Enterprise Products Partners L.P. makes up approx 0.06% of Btr Capital Management Inc’s portfolio.Norman Fields Gottscho Capital Management boosted its stake in EPD in the latest quarter, The investment management firm added 6,400 additional shares and now holds a total of 58,940 shares of Enterprise Products Partners L.P. which is valued at $1,585,486. Enterprise Products Partners L.P. makes up approx 1.06% of Norman Fields Gottscho Capital Management’s portfolio.

Enterprise Products Partners L.P. closed down -0.29 points or -1.07% at $26.89 with 29,37,807 shares getting traded on Friday. Post opening the session at $27.26, the shares hit an intraday low of $26.71 and an intraday high of $27.33 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Investors should note that on Oct 5, 2016, Enterprise Products Partners L.P. announced a cash dividend of $0.4050. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 7, 2016.

Many Wall Street Analysts have commented on Enterprise Products Partners L.P.. Mizuho Initiated Enterprise Products Partners L.P. on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $32.Enterprise Products Partners L.P. was Upgraded by Credit Suisse to ” Outperform” on Sep 19, 2016. Shares were Reiterated by Wunderlich on Aug 31, 2016 to “Buy” and Lowered the Price Target to $ 32 from a previous price target of $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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