Zacks Investment Research upgraded shares of Enbridge Energy, L.P. (NYSE:EEP) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. They currently have $18.00 price objective on the pipeline company’s stock.

According to Zacks, “We like Enbridge Energy’s stable fee-based revenues from diverse energy infrastructure assets. Focus on a low risk business profile helps it to optimize returns, as well as generate stable earnings. Additionally, we like Enbridge’s attractive distribution yield and its increased exposure to leading U.S. basins. Enbridge Energy’s earnings surprise history is also impressive as reflected by the fact that the partnership surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average positive earnings surprise of 22.83%.  Moreover, Enbridge Energy’s secured-capital project program of $28 billion is likely to  generate huge cash flows and are, hence, lucrative for the investors in the long run.”

Several other research firms have also recently weighed in on EEP. BidaskClub cut shares of Enbridge Energy, L.P. from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. Morgan Stanley cut shares of Enbridge Energy, L.P. from an overweight rating to an equal weight rating and reduced their target price for the company from $20.00 to $19.00 in a research note on Thursday, June 15th. Royal Bank Of Canada reiterated a hold rating and issued a $21.00 target price on shares of Enbridge Energy, L.P. in a research note on Sunday, September 17th. 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $20.22.

Shares of Enbridge Energy, L.P. (NYSE EEP) traded down 0.76% during mid-day trading on Tuesday, hitting $15.67. The stock had a trading volume of 154,463 shares. The company’s market cap is $6.58 billion. Enbridge Energy, L.P. has a one year low of $13.87 and a one year high of $26.30. The firm’s 50 day moving average price is $15.48 and its 200-day moving average price is $16.43.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The firm had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.82 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Enbridge Energy, L.P. will post $0.86 earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of EEP. Sei Investments Co. raised its position in Enbridge Energy, L.P. by 1,178.7% in the first quarter. Sei Investments Co. now owns 35,829 shares of the pipeline company’s stock worth $680,000 after purchasing an additional 33,027 shares in the last quarter. Alliancebernstein L.P. raised its position in Enbridge Energy, L.P. by 40.5% in the first quarter. Alliancebernstein L.P. now owns 50,162 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 14,462 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Enbridge Energy, L.P. by 11.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,596 shares of the pipeline company’s stock worth $486,000 after purchasing an additional 2,700 shares in the last quarter. Investment Centers of America Inc. raised its position in Enbridge Energy, L.P. by 2.0% in the first quarter. Investment Centers of America Inc. now owns 15,813 shares of the pipeline company’s stock worth $301,000 after purchasing an additional 316 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Enbridge Energy, L.P. by 111.9% in the first quarter. Jane Street Group LLC now owns 81,588 shares of the pipeline company’s stock worth $1,550,000 after purchasing an additional 43,079 shares in the last quarter. 42.74% 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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Analyst Recommendations for Enbridge Energy, L.P. (NYSE:EEP)

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