Enbridge Energy, L.P. (EEP) Receives Average Rating of “Hold” from Brokerages
Enbridge Energy, L.P. (NYSE:EEP) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.89.
EEP has been the subject of several analyst reports. BidaskClub lowered Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Morgan Stanley lowered Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $20.00 to $19.00 in a research note 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 research note on Friday, June 23rd.
Enbridge Energy, L.P. (NYSE:EEP) traded up 2.09% during trading on Wednesday, hitting $15.62. The stock had a trading volume of 1,021,660 shares. Enbridge Energy, L.P. has a one year low of $13.87 and a one year high of $26.37. The stock’s 50-day moving average is $15.00 and its 200 day moving average is $16.72. The firm’s market cap is $6.56 billion.
Enbridge Energy, L.P. (NYSE:EEP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). Enbridge Energy, L.P. had a positive return on equity of 6.68% and a negative net margin of 4.34%. The company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.82 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Enbridge Energy, L.P. will post $0.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date of this dividend was Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently -160.92%.
A number of hedge funds have recently bought and sold shares of EEP. Center Coast Capital Advisors LP grew its position in Enbridge Energy, L.P. by 60.1% during the second quarter. Center Coast Capital Advisors LP now owns 6,006,780 shares of the pipeline company’s stock valued at $96,108,000 after acquiring an additional 2,256,010 shares during the period. Bank of Montreal Can grew its position in Enbridge Energy, L.P. by 81.0% during the second quarter. Bank of Montreal Can now owns 3,267,641 shares of the pipeline company’s stock valued at $52,282,000 after acquiring an additional 1,462,736 shares during the period. UBS Group AG grew its position in Enbridge Energy, L.P. by 63.9% during the first quarter. UBS Group AG now owns 3,675,289 shares of the pipeline company’s stock valued at $69,831,000 after acquiring an additional 1,433,022 shares during the period. Marshall Wace North America L.P. purchased a new stake in Enbridge Energy, L.P. during the second quarter valued at about $11,145,000. Finally, Infrastructure Capital Advisors LLC grew its position in Enbridge Energy, L.P. by 100.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 1,178,145 shares of the pipeline company’s stock valued at $22,385,000 after acquiring an additional 590,148 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.
Enbridge Energy, L.P. Company Profile
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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