Enbridge Energy Management LLC (NYSE:EEQ) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 898,670 shares, a drop of 35.4% from the August 31st total of 1,390,714 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 265,843 shares, the short-interest ratio is currently 3.4 days.

Shares of Enbridge Energy Management (EEQ) opened at 15.89 on Friday. The company’s market capitalization is $1.36 billion. Enbridge Energy Management has a 12 month low of $13.42 and a 12 month high of $25.96. The stock’s 50 day moving average is $14.63 and its 200 day moving average is $15.69.

EEQ has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of Enbridge Energy Management from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $21.58 to $19.00 in a research report on Thursday, June 15th. Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy Management in a research report on Monday, August 21st. Zacks Investment Research downgraded shares of Enbridge Energy Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine downgraded shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.33.

Several institutional investors and hedge funds have recently bought and sold shares of EEQ. Quantbot Technologies LP acquired a new position in shares of Enbridge Energy Management in the 2nd quarter valued at $113,000. Great West Life Assurance Co. Can lifted its stake in shares of Enbridge Energy Management by 2.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock valued at $137,000 after purchasing an additional 171 shares during the period. M&T Bank Corp lifted its stake in shares of Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock valued at $163,000 after purchasing an additional 201 shares during the period. Buckingham Asset Management LLC lifted its stake in shares of Enbridge Energy Management by 1.9% in the 2nd quarter. Buckingham Asset Management LLC now owns 10,621 shares of the oil and gas producer’s stock valued at $164,000 after purchasing an additional 203 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Enbridge Energy Management by 87.8% in the 2nd quarter. D.A. Davidson & CO. now owns 12,326 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 5,761 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/10/07/enbridge-energy-management-llc-eeq-sees-significant-decline-in-short-interest.html.

About Enbridge Energy Management

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