Enbridge Energy, L.P. (EEP) Holdings Lessened by Salem Investment Counselors Inc.
Salem Investment Counselors Inc. decreased its holdings in shares of Enbridge Energy, L.P. (NYSE:EEP) by 10.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,900 shares of the pipeline company’s stock after selling 1,700 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Enbridge Energy, L.P. were worth $222,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new stake in shares of Enbridge Energy, L.P. in the second quarter worth approximately $160,000. Penserra Capital Management LLC lifted its stake in shares of Enbridge Energy, L.P. by 135.1% during the 2nd quarter. Penserra Capital Management LLC now owns 11,557 shares of the pipeline company’s stock worth $184,000 after acquiring an additional 6,641 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Enbridge Energy, L.P. by 2.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,253 shares of the pipeline company’s stock worth $196,000 after acquiring an additional 293 shares during the last quarter. TIAA FSB bought a new stake in shares of Enbridge Energy, L.P. during the 2nd quarter worth approximately $225,000. Finally, Crescent Grove Advisors LLC bought a new stake in shares of Enbridge Energy, L.P. during the 2nd quarter worth approximately $234,000. 42.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Energy, L.P. (NYSE:EEP) traded down 0.25% during midday trading on Tuesday, reaching $15.87. The company’s stock had a trading volume of 168,663 shares. The stock’s 50-day moving average is $15.09 and its 200-day moving average is $16.51. Enbridge Energy, L.P. has a one year low of $13.87 and a one year high of $26.37. The company’s market capitalization is $6.66 billion.
Enbridge Energy, L.P. (NYSE:EEP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). The company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. On average, equities analysts expect that Enbridge Energy, L.P. will post $0.86 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the company. Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. BidaskClub upgraded Enbridge Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley lowered Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $19.00 in a research note on Thursday, June 15th. Zacks Investment Research downgraded Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $17.00 target price on shares of Enbridge Energy, L.P. in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.44.
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Enbridge Energy, L.P. 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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