Renaissance Investment Group buys $6.8 Million stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Renaissance Investment Group scooped up 3,325 additional shares in Enterprise Products Partners L.P. during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 281,154 shares of Enterprise Products Partners L.P. which is valued at $6.8 Million.Enterprise Products Partners L.P. makes up approximately 3.40% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in EPD by selling 2,897 shares or 7.43% in the most recent quarter. The Hedge Fund company now holds 36,104 shares of EPD which is valued at $873,356. Enterprise Products Partners L.P. makes up approx 0.19% of Beacon Financial Group’s portfolio.

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.

Many Wall Street Analysts have commented on Enterprise Products Partners L.P.. Enterprise Products Partners L.P. was Upgraded by Morgan Stanley to ” Overweight” on Jan 20, 2016. Scotia Howard Weil Initiated Enterprise Products Partners L.P. on Jan 6, 2016 to “Sector Outperform”, Price Target of the shares are set at $31.

Enterprise Products Partners L.P. closed down -0.04 points or -0.16% at $24.36 with 40,13,821 shares getting traded on Monday. Post opening the session at $24.71, the shares hit an intraday low of $24.205 and an intraday high of $24.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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