Enbridge Energy Partners, L.P. (EEP) Price Target Raised to $24.00

Enbridge Energy Partners, L.P. (NYSE:EEP) had its target price upped by investment analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 5.17% from the company’s previous close.

Enbridge Energy Partners, L.P. (NYSE:EEP) traded down 3.83% during mid-day trading on Wednesday, hitting $22.82. 1,808,611 shares of the stock were exchanged. The firm has a 50-day moving average price of $23.05 and a 200-day moving average price of $19.85. The stock’s market capitalization is $7.89 billion. Enbridge Energy Partners, L.P. has a 12-month low of $14.27 and a 12-month high of $32.94.

Enbridge Energy Partners, L.P. (NYSE:EEP) last announced its quarterly earnings data on Monday, May 2nd. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts predict that Enbridge Energy Partners, L.P. will post $0.60 earnings per share for the current fiscal year.

Several institutional investors have added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Enbridge Energy Partners, L.P. by 136.7% in the fourth quarter. Morgan Stanley now owns 4,557,785 shares of the company’s stock valued at $105,148,000 after buying an additional 2,631,827 shares during the period. Harvest Fund Advisors LLC boosted its stake in Enbridge Energy Partners, L.P. by 42.9% in the first quarter. Harvest Fund Advisors LLC now owns 7,049,621 shares of the company’s stock valued at $129,149,000 after buying an additional 2,116,500 shares during the last quarter. ING Groep NV boosted its stake in Enbridge Energy Partners, L.P. by 282.0% in the first quarter. ING Groep NV now owns 2,704,849 shares of the company’s stock valued at $49,580,000 after buying an additional 1,996,849 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in Enbridge Energy Partners, L.P. by 71.5% in the fourth quarter. Atlantic Trust Group LLC now owns 4,255,211 shares of the company’s stock valued at $98,168,000 after buying an additional 1,774,174 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Enbridge Energy Partners, L.P. during the second quarter valued at approximately $36,313,000.

A number of other analysts have also commented on the company. Goldman Sachs Group Inc. lowered Enbridge Energy Partners, L.P. from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $21.00 to $20.00 in a research report on Wednesday, July 20th. Zacks Investment Research lowered Enbridge Energy Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. TheStreet upgraded Enbridge Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Credit Suisse Group AG reiterated a “neutral” rating and issued a $5.00 price objective (down from $23.00) on shares of Enbridge Energy Partners, L.P. in a research report on Tuesday, May 3rd. Finally, Barclays PLC assumed coverage on Enbridge Energy Partners, L.P. in a research report on Wednesday, April 13th. They issued an “equal weight” rating and a $21.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.

Enbridge Energy Partners, L.P. is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. The Company’s activities include interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities, and supply, transportation and sales services, including purchasing and selling natural gas and NGLs.