Laffer Investments Buys Enbridge Inc, Dominion Energy Inc, Hess Corp, Sells Spectra Energy Corp, Spire Inc, Linear Technology Corp

• New Purchases: ENB, CVS, VFC, EQM, WFC, RYAMPRA,
• Added Positions: DCUC, HESPRA, VLO, GXPPRB, ADI, HCNPRI, AGNPRA, SRCLP, TEVVF,
• Reduced Positions: AMLP, JNJ, BA, CSCO, MSFT, UPS, BCE, MO, CME, LYB,
• Sold Out: SE, LGPRU, LLTC, PG, KO, TGT, CWB, JPMPRB, VOD,

For the details of Laffer Investments's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Laffer+Investments

1. Microsoft Corp (MSFT) - 157,061 shares, 3.19% of the total portfolio. Shares reduced by 2.19%
2. JPMorgan Chase & Co (JPM) - 81,056 shares, 2.2% of the total portfolio. Shares reduced by 2.26%
3. Anthem Inc (ANTX) - 90,994 shares, 1.43% of the total portfolio. Shares reduced by 1.87%
4. The Home Depot Inc (HD) - 30,770 shares, 1.39% of the total portfolio.
5. Allergan PLC (AGNPRA) - 5,194 shares, 1.36% of the total portfolio. Shares added by 1.92%

Laffer Investments initiated holdings in Enbridge Inc. The purchase prices were between $40.31 and $44.37, with an estimated average price of $42.25. The stock is now traded at around $39.95. The impact to the portfolio due to this purchase was 0.73%. The holdings were 56,547 shares as of 2017-03-31.

Laffer Investments initiated holdings in VF Corp. The purchase prices were between $48.32 and $56.2, with an estimated average price of $52.39. The stock is now traded at around $52.70. The impact to the portfolio due to this purchase was 0.24%. The holdings were 13,951 shares as of 2017-03-31.

Laffer Investments initiated holdings in CVS Health Corp. The purchase prices were between $74.8 and $83.92, with an estimated average price of $79.83. The stock is now traded at around $79.24. The impact to the portfolio due to this purchase was 0.24%. The holdings were 9,718 shares as of 2017-03-31.

Laffer Investments initiated holdings in Wells Fargo & Co. The purchase prices were between $53.78 and $59.73, with an estimated average price of $56.74. The stock is now traded at around $53.25. The impact to the portfolio due to this purchase was 0.13%. The holdings were 7,623 shares as of 2017-03-31.

Laffer Investments initiated holdings in EQT Midstream Partners LP. The purchase prices were between $74.44 and $82.67, with an estimated average price of $78.13. The stock is now traded at around $74.84. The impact to the portfolio due to this purchase was 0.13%. The holdings were 5,437 shares as of 2017-03-31.

Laffer Investments initiated holdings in Rayonier Advanced Materials Inc. The purchase prices were between $95.45 and $126.39, with an estimated average price of $106.87. The stock is now traded at around $101.57. The impact to the portfolio due to this purchase was 0.11%. The holdings were 3,440 shares as of 2017-03-31.

Laffer Investments added to the holdings in Dominion Energy Inc by 100.32%. The purchase prices were between $49.56 and $51.2, with an estimated average price of $50.48. The stock is now traded at around $50.50. The impact to the portfolio due to this purchase was 0.58%. The holdings were 74,675 shares as of 2017-03-31.

Laffer Investments added to the holdings in Hess Corp by 65.90%. The purchase prices were between $56.82 and $74.24, with an estimated average price of $63.73. The stock is now traded at around $60.23. The impact to the portfolio due to this purchase was 0.25%. The holdings were 35,087 shares as of 2017-03-31.

Laffer Investments added to the holdings in Valero Energy Corp by 39.33%. The purchase prices were between $65.11 and $70.42, with an estimated average price of $66.92. The stock is now traded at around $64.22. The impact to the portfolio due to this purchase was 0.24%. The holdings were 40,935 shares as of 2017-03-31.

Laffer Investments added to the holdings in Great Plains Energy Inc by 42.36%. The purchase prices were between $50.18 and $53.73, with an estimated average price of $51.93. The stock is now traded at around $52.34. The impact to the portfolio due to this purchase was 0.21%. The holdings were 42,751 shares as of 2017-03-31.

Laffer Investments added to the holdings in Analog Devices Inc by 26.00%. The purchase prices were between $71.32 and $83.85, with an estimated average price of $78.53. The stock is now traded at around $80.82. The impact to the portfolio due to this purchase was 0.17%. The holdings were 31,663 shares as of 2017-03-31.

Laffer Investments sold out the holdings in Spectra Energy Corp. The sale prices were between $40.68 and $43.45, with an estimated average price of $41.93.

Laffer Investments sold out the holdings in Spire Inc. The sale prices were between $55.93 and $59.23, with an estimated average price of $57.47.

Laffer Investments sold out the holdings in Linear Technology Corp. The sale prices were between $61.98 and $65.45, with an estimated average price of $63.61.

Laffer Investments sold out the holdings in Procter & Gamble Co. The sale prices were between $83.49 and $91.67, with an estimated average price of $88.67.

Laffer Investments sold out the holdings in Coca-Cola Co. The sale prices were between $40.44 and $42.6, with an estimated average price of $41.71.

Laffer Investments sold out the holdings in Target Corp. The sale prices were between $53.12 and $73.81, with an estimated average price of $62.23.

Laffer Investments reduced to the holdings in Alerian MLP by 97.56%. The sale prices were between $12.48 and $13.29, with an estimated average price of $12.84. The stock is now traded at around $12.30. The impact to the portfolio due to this sale was -0.18%. Laffer Investments still held 1,112 shares as of 2017-03-31.

Laffer Investments reduced to the holdings in Johnson & Johnson by 24.95%. The sale prices were between $111.76 and $128.96, with an estimated average price of $119.46. The stock is now traded at around $127.51. The impact to the portfolio due to this sale was -0.08%. Laffer Investments still held 6,382 shares as of 2017-03-31.

Laffer Investments reduced to the holdings in Cisco Systems Inc by 26.18%. The sale prices were between $29.98 and $34.44, with an estimated average price of $32.43. The stock is now traded at around $34.21. The impact to the portfolio due to this sale was -0.08%. Laffer Investments still held 23,867 shares as of 2017-03-31.

Laffer Investments reduced to the holdings in Boeing Co by 40.26%. The sale prices were between $156.97 and $183.91, with an estimated average price of $170.33. The stock is now traded at around $182.92. The impact to the portfolio due to this sale was -0.08%. Laffer Investments still held 2,399 shares as of 2017-03-31.

Laffer Investments reduced to the holdings in BCE Inc by 21.5%. The sale prices were between $42.48 and $45.12, with an estimated average price of $44.06. The stock is now traded at around $44.75. The impact to the portfolio due to this sale was -0.06%. Laffer Investments still held 17,012 shares as of 2017-03-31.

Laffer Investments reduced to the holdings in NextEra Energy Inc by 26.61%. The sale prices were between $118.35 and $132.8, with an estimated average price of $125.76. The stock is now traded at around $136.35. The impact to the portfolio due to this sale was -0.05%. Laffer Investments still held 3,368 shares as of 2017-03-31.