Pennsylvania Trust Co Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Pennsylvania Trust Co reduced its stake in Enterprise Products Partners L.P. by 7.97% during the most recent quarter end. The investment management company now holds a total of 46,186 shares of Enterprise Products Partners L.P. which is valued at $1,241,942 after selling 4,000 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Enterprise Products Partners L.P. makes up approximately 0.10% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group boosted its stake in EPD in the latest quarter, The investment management firm added 3,097 additional shares and now holds a total of 284,111 shares of Enterprise Products Partners L.P. which is valued at $7,722,137. Enterprise Products Partners L.P. makes up approx 3.77% of Renaissance Investment Group’s portfolio.Msi Financial Services Inc reduced its stake in EPD by selling 1,165 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 71,657 shares of EPD which is valued at $1,947,637. Enterprise Products Partners L.P. makes up approx 0.07% of Msi Financial Services Inc’s portfolio.Cohen Capital Management boosted its stake in EPD in the latest quarter, The investment management firm added 7,180 additional shares and now holds a total of 370,891 shares of Enterprise Products Partners L.P. which is valued at $10,080,817. Enterprise Products Partners L.P. makes up approx 3.02% of Cohen 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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