Zacks: Brokerages Expect Enbridge Energy, L.P. (EEP) to Post $0.24 Earnings Per Share
Equities research analysts expect that Enbridge Energy, L.P. (NYSE:EEP) will post $0.24 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Enbridge Energy, L.P.’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.29. Enbridge Energy, L.P. reported earnings per share of $0.09 in the same quarter last year, which would suggest a positive year over year growth rate of 166.7%. The company is scheduled to announce its next earnings report on Monday, October 30th.
On average, analysts expect that Enbridge Energy, L.P. will report full-year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.69 to $0.77. For the next financial year, analysts expect that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.86 to $1.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Enbridge Energy, L.P..
Enbridge Energy, L.P. (NYSE:EEP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.03). The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. Enbridge Energy, L.P. had a positive return on equity of 6.68% and a negative net margin of 4.34%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS.
A number of brokerages have recently commented on EEP. BidaskClub cut Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Zacks Investment Research cut Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley cut Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $19.00 in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $17.00 target price on shares of Enbridge Energy, L.P. in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.80.
Shares of Enbridge Energy, L.P. (NYSE EEP) traded up 0.92% during mid-day trading on Tuesday, reaching $15.30. The company’s stock had a trading volume of 945,068 shares. The company’s 50-day moving average price is $15.02 and its 200-day moving average price is $16.76. Enbridge Energy, L.P. has a 12-month low of $13.87 and a 12-month high of $26.37. The stock’s market capitalization is $6.43 billion.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.15%. The ex-dividend date was Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio is currently -160.92%.
Hedge funds have recently modified their holdings of the stock. Bridges Investment Management Inc. lifted its stake in shares of Enbridge Energy, L.P. by 2.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock worth $537,000 after acquiring an additional 900 shares during the last quarter. Hutner Capital Management Inc. lifted its stake in shares of Enbridge Energy, L.P. by 0.7% during the 1st quarter. Hutner Capital Management Inc. now owns 82,740 shares of the pipeline company’s stock worth $1,572,000 after acquiring an additional 605 shares during the last quarter. US Bancorp DE lifted its stake in shares of Enbridge Energy, L.P. by 15.8% during the 1st quarter. US Bancorp DE now owns 37,648 shares of the pipeline company’s stock worth $715,000 after acquiring an additional 5,141 shares during the last quarter. South Texas Money Management Ltd. bought a new stake in shares of Enbridge Energy, L.P. during the 1st quarter worth approximately $243,000. Finally, Sippican Capital Advisors lifted its stake in shares of Enbridge Energy, L.P. by 2.6% during the 2nd quarter. Sippican Capital Advisors now owns 28,920 shares of the pipeline company’s stock worth $463,000 after acquiring an additional 730 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.
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About Enbridge Energy, L.P.
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.
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