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.

COPYRIGHT VIOLATION NOTICE: “Enbridge Energy, L.P. (EEP) Receives Average Rating of “Hold” from Brokerages” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/13/enbridge-energy-l-p-eep-receives-average-rating-of-hold-from-brokerages.html.

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.

Analyst Recommendations for Enbridge Energy, L.P. (NYSE:EEP)

Receive News & Stock Ratings for Enbridge Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Energy L.P. and related stocks with our FREE daily email newsletter.