Adams Asset Advisors LLC trimmed its stake in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) by 53.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 216,518 shares of the pipeline company’s stock after selling 247,248 shares during the period. Adams Asset Advisors LLC’s holdings in Enbridge Energy Partners were worth $2,366,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in EEP. Brookfield Asset Management Inc. raised its position in shares of Enbridge Energy Partners by 142.0% during the 1st quarter. Brookfield Asset Management Inc. now owns 9,332,662 shares of the pipeline company’s stock worth $89,967,000 after buying an additional 5,476,675 shares in the last quarter. Cushing Asset Management LP raised its position in shares of Enbridge Energy Partners by 248.9% during the 4th quarter. Cushing Asset Management LP now owns 2,500,000 shares of the pipeline company’s stock worth $34,525,000 after buying an additional 1,783,500 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of Enbridge Energy Partners during the 1st quarter worth about $6,363,000. Macquarie Group Ltd. raised its position in shares of Enbridge Energy Partners by 53.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,357,900 shares of the pipeline company’s stock worth $17,074,000 after buying an additional 474,200 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Enbridge Energy Partners by 24.8% during the 4th quarter. Deutsche Bank AG now owns 2,265,461 shares of the pipeline company’s stock worth $31,283,000 after buying an additional 450,015 shares in the last quarter. Institutional investors own 39.47% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Enbridge Energy Partners from $15.00 to $11.00 and set a “sell” rating on the stock in a research note on Friday, March 23rd. Barclays lowered their price objective on shares of Enbridge Energy Partners from $16.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Enbridge Energy Partners in a research note on Tuesday, March 13th. Citigroup lowered their price objective on shares of Enbridge Energy Partners from $17.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 28th. Finally, Royal Bank of Canada lowered their price objective on shares of Enbridge Energy Partners to $12.00 and set a “market perform” rating on the stock in a research note on Monday, March 19th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.80.

Shares of Enbridge Energy Partners stock traded down $0.10 during trading on Wednesday, hitting $10.79. The stock had a trading volume of 1,183,471 shares, compared to its average volume of 1,807,129. The company has a market cap of $3.53 billion, a P/E ratio of 13.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.21 and a quick ratio of 0.21. Enbridge Energy Partners, L.P. has a 1 year low of $8.89 and a 1 year high of $16.63.

Enbridge Energy Partners (NYSE:EEP) last released its earnings results on Wednesday, May 9th. The pipeline company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $592.00 million for the quarter, compared to the consensus estimate of $584.93 million. Enbridge Energy Partners had a net margin of 8.43% and a return on equity of 5.66%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. analysts expect that Enbridge Energy Partners, L.P. will post 0.64 EPS for the current fiscal year.

Enbridge Energy Partners Company Profile

Enbridge Energy Partners, L.P. provides crude oil and liquid petroleum gathering, transportation, and storage services assets in the United States. The company's Lakehead system consists of approximately 4,212 miles of pipe and 74 pump stations located in the Great Lakes and Midwest regions of the United States.

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Institutional Ownership by Quarter for Enbridge Energy Partners (NYSE:EEP)

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