Cushing Asset Management Lp Lowers stake in Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD) : Cushing Asset Management Lp reduced its stake in Enterprise Products Partners L.P. by 4.4% during the most recent quarter end. The investment management company now holds a total of 4,843,559 shares of Enterprise Products Partners L.P. which is valued at $122,348,300 after selling 223,011 shares in Enterprise Products Partners L.P. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Enterprise Products Partners L.P. makes up approximately 4.07% of Cushing Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in EPD in the latest quarter, The investment management firm added 475,976 additional shares and now holds a total of 10,775,523 shares of Enterprise Products Partners L.P. which is valued at $272,189,711. Enterprise Products Partners L.P. makes up approx 0.13% of Massachusetts Financial Services Co’s portfolio.Mcf Advisors boosted its stake in EPD in the latest quarter, The investment management firm added 166 additional shares and now holds a total of 25,432 shares of Enterprise Products Partners L.P. which is valued at $654,620. Enterprise Products Partners L.P. makes up approx 0.16% of Mcf Advisors’s portfolio.Noesis Capital Mangement Corp reduced its stake in EPD by selling 811 shares or 3.96% in the most recent quarter. The Hedge Fund company now holds 19,689 shares of EPD which is valued at $490,847. Enterprise Products Partners L.P. makes up approx 0.22% of Noesis Capital Mangement Corp’s portfolio.Neville Rodie Shaw Inc reduced its stake in EPD by selling 2,784 shares or 1.81% in the most recent quarter. The Hedge Fund company now holds 150,961 shares of EPD which is valued at $3,860,073. Enterprise Products Partners L.P. makes up approx 0.47% of Neville Rodie Shaw Inc’s portfolio.

Enterprise Products Partners L.P. opened for trading at $25.28 and hit $25.52 on the upside on Monday, eventually ending the session at $25.24, with a gain of 0.20% or 0.05 points. The heightened volatility saw the trading volume jump to 30,88,638 shares. Company has a market cap of $53,110 M.

On the company’s financial health, Enterprise Products Partners L.P. reported $0.30 EPS for the quarter, based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus estimate of $0.30. The company had revenue of $5920.40 million for the quarter, compared to analysts expectations of $5887.84 million. The company’s revenue was down -6.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Enterprise Products Partners L.P.. Enterprise Products Partners L.P. was Initiated by Ladenburg Thalmann to “Buy” on Nov 16, 2016. 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.

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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