Hightower Advisors Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Hightower Advisors reduced its stake in Enterprise Products Partners L.P. by 1.19% during the most recent quarter end. The investment management company now holds a total of 2,078,351 shares of Enterprise Products Partners L.P. which is valued at $56,551,931 after selling 25,044 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Enterprise Products Partners L.P. makes up approximately 0.69% of Hightower Advisors’s portfolio.

Other Hedge Funds, Including , Argent Trust Co reduced its stake in EPD by selling 2,000 shares or 16.14% in the most recent quarter. The Hedge Fund company now holds 10,388 shares of EPD which is valued at $282,657. Enterprise Products Partners L.P. makes up approx 0.09% of Argent Trust Co’s portfolio. Wills Financial Group sold out all of its stake in EPD during the most recent quarter. The investment firm sold 10,768 shares of EPD which is valued $292,890. Wall Street Access Asset Management sold out all of its stake in EPD during the most recent quarter. The investment firm sold 160 shares of EPD which is valued $4,368.Private Capital Advisors reduced its stake in EPD by selling 2,700 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 307,358 shares of EPD which is valued at $9,073,208. Enterprise Products Partners L.P. makes up approx 3.33% of Private Capital Advisors’s portfolio.

Enterprise Products Partners L.P. closed down -0.07 points or -0.26% at $26.53 with 42,33,021 shares getting traded on Tuesday. Post opening the session at $26.5, the shares hit an intraday low of $26.45 and an intraday high of $26.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.. 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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