Wedbush Securities Inc. purchased a new position in shares of Enbridge Energy, L.P. (NYSE:EEP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,459 shares of the pipeline company’s stock, valued at approximately $167,000.

A number of other large investors have also modified their holdings of the business. Oppenheimer & Co. Inc. lifted its position in 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 buying an additional 293 shares in the last quarter. Novare Capital Management LLC increased its stake in shares of Enbridge Energy, L.P. by 0.4% during the 2nd quarter. Novare Capital Management LLC now owns 133,150 shares of the pipeline company’s stock worth $2,130,000 after purchasing an additional 500 shares during the last quarter. Sippican Capital Advisors increased its stake in shares of Enbridge Energy, L.P. by 2.6% during the 2nd quarter. Sippican Capital Advisors now owns 28,920 shares of the pipeline company’s stock worth $463,000 after purchasing an additional 730 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Enbridge Energy, L.P. by 2.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock worth $537,000 after purchasing an additional 900 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Enbridge Energy, L.P. by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 119,614 shares of the pipeline company’s stock worth $1,914,000 after purchasing an additional 1,207 shares during the last quarter. 42.99% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Energy, L.P. (EEP) opened at $14.70 on Wednesday. Enbridge Energy, L.P. has a 52-week low of $13.87 and a 52-week high of $26.17. The stock has a market cap of $4,786.74, a P/E ratio of 21.56 and a beta of 1.21. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.94.

Enbridge Energy, L.P. (NYSE:EEP) last announced its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Enbridge Energy, L.P. had a net margin of 8.47% and a return on equity of 6.03%. The firm had revenue of $616.40 million for the quarter, compared to analyst estimates of $637.68 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. sell-side analysts expect that Enbridge Energy, L.P. will post 0.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.52%. The ex-dividend date is Monday, November 6th. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently 222.23%.

Several research analysts have recently weighed in on EEP shares. BidaskClub lowered shares of 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 shares of Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 price target on shares of Enbridge Energy, L.P. in a research note on Sunday, September 17th. Finally, Mizuho reiterated a “hold” rating and issued a $17.00 price target on shares of Enbridge Energy, L.P. in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Enbridge Energy, L.P. has an average rating of “Hold” and an average price target of $19.13.

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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.

Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

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