Zacks: Brokerages Expect Enbridge Energy Partners, L.P. (EEP) Will Post Earnings of $0.14 Per Share

Share on StockTwits

Wall Street analysts expect Enbridge Energy Partners, L.P. (NYSE:EEP) to post earnings per share of $0.14 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Enbridge Energy Partners’ earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.17. Enbridge Energy Partners also posted earnings of $0.14 per share during the same quarter last year. The company is scheduled to announce its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Enbridge Energy Partners will report full year earnings of $0.68 per share for the current year, with EPS estimates ranging from $0.58 to $0.77. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.84 per share, with EPS estimates ranging from $0.64 to $1.03. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Enbridge Energy Partners.

Enbridge Energy Partners (NYSE:EEP) last released its earnings results on Thursday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The firm had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $563.60 million. Enbridge Energy Partners had a return on equity of 7.59% and a net margin of 9.25%. During the same quarter in the previous year, the business posted $0.14 EPS.

Several research analysts have weighed in on EEP shares. Zacks Investment Research raised Enbridge Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. UBS Group reaffirmed a “neutral” rating on shares of Enbridge Energy Partners in a research report on Thursday, May 31st. ValuEngine lowered Enbridge Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley lowered their price target on Enbridge Energy Partners from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, June 8th. Finally, Barclays lowered their price target on Enbridge Energy Partners from $16.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.80.

Enbridge Energy Partners traded down $0.04, hitting $11.54, during trading on Friday, according to MarketBeat Ratings. The stock had a trading volume of 7,213,415 shares, compared to its average volume of 1,643,051. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 14.43 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.21 and a current ratio of 0.28. Enbridge Energy Partners has a 12 month low of $8.89 and a 12 month high of $16.34.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Shareholders of record on Tuesday, August 7th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 12.13%. The ex-dividend date is Monday, August 6th. Enbridge Energy Partners’s dividend payout ratio (DPR) is 175.00%.

Large investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its holdings in shares of Enbridge Energy Partners by 5.9% during the 2nd quarter. Alps Advisors Inc. now owns 17,894,258 shares of the pipeline company’s stock worth $247,120,000 after acquiring an additional 999,662 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Enbridge Energy Partners by 19,269,332.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 9,442,022 shares of the pipeline company’s stock worth $103,201,000 after acquiring an additional 9,441,973 shares during the last quarter. Brookfield Asset Management Inc. increased its holdings 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 acquiring an additional 5,476,675 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Enbridge Energy Partners by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 3,948,518 shares of the pipeline company’s stock worth $38,063,000 after acquiring an additional 318,485 shares during the last quarter. Finally, Maple Brown Abbott Ltd increased its holdings in shares of Enbridge Energy Partners by 2.7% during the 1st quarter. Maple Brown Abbott Ltd now owns 3,093,548 shares of the pipeline company’s stock worth $29,822,000 after acquiring an additional 81,800 shares during the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge Energy Partners

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.

Featured Story: Outstanding Shares

Get a free copy of the Zacks research report on Enbridge Energy Partners (EEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Enbridge Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.