Enterprise Products Partners L.P. (EPD) is Downgraded by Seaport Global Securities to Neutral, Price Target at $30

Enterprise Products Partners L.P. (EPD) was Downgraded by Seaport Global Securities to ” Neutral” and the brokerage firm has set the Price Target at $30. Earlier the firm had a rating of “Buy ” on the company shares. Seaport Global Securities advised their investors in a research report released on Apr 29, 2016.

On the company’s financial health, Enterprise Products Partners L.P. reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.34. The company had revenue of $6155.00 million for the quarter, compared to analysts expectations of $7341.25 million. The company’s revenue was down -39.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Enterprise Products Partners L.P. opened for trading at $27.05 and hit $27.3777 on the upside on Wednesday, eventually ending the session at $27.13, with a gain of 1.02% or 0.275 points. The heightened volatility saw the trading volume jump to 53,38,387 shares. Company has a market cap of $54,837 M.

In a different news, on Feb 17, 2016, Carin Marcy Barth (director) purchased 5,000 shares at $20.52 per share price. According to the SEC, on Feb 11, 2016, William C Montgomery (director) purchased 10,000 shares at $19.69 per share price. On Dec 22, 2015, Thurmon Andress (director) purchased 2,500 shares at $25.10 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.

Enterprise Products Partners L.P.

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