Fund Move to Note: Salient Capital Advisors LLC Raised Its Stake in Enterprise Prods Partners L (EPD) as Share Value Declined

Fund Move to Note: Salient Capital Advisors LLC Raised Its Stake in Enterprise Prods Partners L (EPD) as Share Value Declined

Salient Capital Advisors Llc increased its stake in Enterprise Prods Partners L (EPD) by 8.71% based on its latest 2016Q3 regulatory filing with the SEC. Salient Capital Advisors Llc bought 858,647 shares as the company’s stock declined 4.79% while stock markets rallied. The institutional investor held 10.72 million shares of the natural gas distribution company at the end of 2016Q3, valued at $296.17 million, up from 9.86 million at the end of the previous reported quarter. Salient Capital Advisors Llc who had been investing in Enterprise Prods Partners L for a number of months, seems to be bullish on the $56.29 billion market cap company. The stock decreased 2.61% or $0.72 during the last trading session, hitting $26.84. Enterprise Products Partners L.P. (NYSE:EPD) has declined 7.13% since June 7, 2016 and is downtrending. It has underperformed by 14.55% the S&P500.

Salient Capital Advisors Llc, which manages about $5.02 billion and $4.93B US Long portfolio, decreased its stake in Ngl Energy Partners Lp (NYSE:NGL) by 172,757 shares to 5.32M shares, valued at $100.29 million in 2016Q3, according to the filing. It also reduced its holding in Western Gas Equity Partners (NYSE:WGP) by 71,879 shares in the quarter, leaving it with 4.56M shares, and cut its stake in Enable Midstream Partners Lp (NYSE:ENBL).

Salient Capital Advisors Llc is a Texas-based hedge fund with more than $5.02 billion AUM in November, 2014. Taken from Salient Capital Advisors latest Adv, the fund reported to have 156 full and part-time employees. Among which 68 performing investment advisory and research functions. The hedge fund had more than 900 clients.

Insitutional Activity: The institutional sentiment decreased to 1.2 in Q3 2016. Its down 0.03, from 1.23 in 2016Q2. The ratio dived, as 49 funds sold all EPD shares owned while 226 reduced positions. 67 funds bought stakes while 264 increased positions. They now own 735.46 million shares or 7.01% more from 687.25 million shares in 2016Q2. Moreover, Exane Derivatives has 0% invested in Enterprise Products Partners L.P. (NYSE:EPD) for 28 shares. Fmr Ltd Liability Co holds 0.01% of its portfolio in Enterprise Products Partners L.P. (NYSE:EPD) for 4.04M shares. Moreover, Clifford Swan Counsel Lc has 0.09% invested in Enterprise Products Partners L.P. (NYSE:EPD) for 48,015 shares. The Florida-based Finemark Bancorp has invested 0.07% in Enterprise Products Partners L.P. (NYSE:EPD). Bancorp Of America Corporation De has 0.1% invested in the company for 16.05M shares. Victory Capital Mngmt owns 1.01M shares or 0.08% of their US portfolio. Destination Wealth Management accumulated 15,820 shares or 0.03% of the stock. The Illinois-based Driehaus Capital Lc has invested 0.48% in Enterprise Products Partners L.P. (NYSE:EPD). Parasol Investment Llc, a Illinois-based fund reported 1,560 shares. Old National Comml Bank In accumulated 124,460 shares or 0.2% of the stock. Private Harbour Mgmt Counsel Limited Liability, a Ohio-based fund reported 50,882 shares. Df Dent Co last reported 19,275 shares in the company. Woodmont Investment Counsel Lc has invested 0.7% of its portfolio in Enterprise Products Partners L.P. (NYSE:EPD). Mark Asset Mngmt Corp last reported 21,000 shares in the company. Income Prns Ltd Com last reported 9.44% of its portfolio in the stock.

Insider Transactions: Since November 16, 2016, the stock had 1 insider purchase, and 0 sales for $101,080 net activity. The insider BARTH CARIN MARCY bought 4,000 shares worth $101,080.

More recent Enterprise Products Partners L.P. (NYSE:EPD) news were published by: Seekingalpha.com which released: “Energy Holdings: Enterprise And Pattern” on January 11, 2017. Also Seekingalpha.com published the news titled: “What’s Behind Enterprise Products Partners Stock’s Unimpressive Performance?” on December 20, 2016. Prnewswire.com‘s news article titled: “Oil & Gas Stocks Under Review — Enterprise Products Partners, Range Resources …” with publication date: January 03, 2017 was also an interesting one.

According to Zacks Investment Research, “Enterprise Products Partners L.P. is a leading integrated provider of processing and transportation services to producers of Natural Gas Liquids (NGLs) and consumers of NGL products. The Company fractionates for a processing fee mixed NGLs produced as by-products of oil and natural gas production into their component products: ethane, propane, isobutane, normal butane and natural gasoline; converts normal butane to isobutane through the process of isomerization; produces MTBE from isobutane and methanol; and transports NGL products to end users by pipeline and railcar.”

Enterprise Products Partners L.P. (NYSE:EPD) Ratings Coverage

Out of 19 analysts covering Enterprise Products Partners LP (NYSE:EPD), 17 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 89% are positive. $38 is the highest target while $29 is the lowest. The $32.95 average target is 22.76% above today’s ($26.84) stock price. Enterprise Products Partners LP has been the topic of 26 analyst reports since July 23, 2015 according to StockzIntelligence Inc. On Thursday, March 17 the stock rating was downgraded by Credit Suisse to “Neutral”. On Wednesday, January 6 the stock rating was initiated by Howard Weil with “Sector Outperform”. Evercore initiated the shares of EPD in a report on Friday, September 16 with “Buy” rating. The stock of Enterprise Products Partners L.P. (NYSE:EPD) earned “Buy” rating by Argus Research on Tuesday, November 3. Seaport Global downgraded the shares of EPD in a report on Friday, April 29 to “Neutral” rating. The stock has “Buy” rating given by Deutsche Bank on Wednesday, November 18. The rating was initiated by Mizuho on Friday, September 30 with “Buy”. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, August 18. The firm earned “Overweight” rating on Friday, April 1 by Piper Jaffray. DA Davidson initiated Enterprise Products Partners L.P. (NYSE:EPD) on Thursday, July 23 with “Buy” rating.

EPD Company Profile

Enterprise Products Partners L.P. (Enterprise), incorporated on April 9, 1998, is a well-known provider of midstream energy services to producers and clients of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s divisions include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. The Company’s midstream energy activities include natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals, including liquefied petroleum gas (LPG); crude oil gathering, transportation, storage and terminals; offshore production platforms; petrochemical and refined products transportation, storage and terminals, and related services, and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico.

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