Texan Capital Management Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Texan Capital Management reduced its stake in Enterprise Products Partners L.P. by 7.09% during the most recent quarter end. The investment management company now holds a total of 249,823 shares of Enterprise Products Partners L.P. which is valued at $6.6 Million after selling 19,078 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on May 11, 2016.Enterprise Products Partners L.P. makes up approximately 2.99% of Texan Capital Management’s portfolio.

Other Hedge Funds, Including , Focused Wealth Management Inc boosted its stake in EPD in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 8,254 shares of Enterprise Products Partners L.P. which is valued at $216,750. Enterprise Products Partners L.P. makes up approx 0.12% of Focused Wealth Management Inc’s portfolio.Baldwin Investment Management boosted its stake in EPD in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 90,550 shares of Enterprise Products Partners L.P. which is valued at $2.4 Million. Enterprise Products Partners L.P. makes up approx 1.04% of Baldwin Investment Management’s portfolio.Summit Equities Inc reduced its stake in EPD by selling 2,142 shares or 4.81% in the most recent quarter. The Hedge Fund company now holds 42,419 shares of EPD which is valued at $1.1 Million. Enterprise Products Partners L.P. makes up approx 0.32% of Summit Equities Inc’s portfolio.Clarkston Capital Partners boosted its stake in EPD in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 101,000 shares of Enterprise Products Partners L.P. which is valued at $2.6 Million. Enterprise Products Partners L.P. makes up approx 0.15% of Clarkston Capital Partners’s portfolio.Private Capital Advisors boosted its stake in EPD in the latest quarter, The investment management firm added 81,779 additional shares and now holds a total of 310,058 shares of Enterprise Products Partners L.P. which is valued at $8.3 Million. Enterprise Products Partners L.P. makes up approx 3.69% of Private Capital Advisors’s portfolio.

Enterprise Products Partners L.P. opened for trading at $26.66 and hit $26.8 on the upside on Monday, eventually ending the session at $26.72, with a gain of 1.75% or 0.46 points. The heightened volatility saw the trading volume jump to 77,68,325 shares. Company has a market cap of $55,618 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.

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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