Enbridge Energy, L.P. (NYSE:EEP)‘s stock had its “hold” rating reaffirmed by stock analysts at RBC Capital Markets in a research note issued on Friday. They currently have a $24.00 target price on the stock. RBC Capital Markets’ target price would indicate a potential downside of 6.76% from the company’s current price.
Other analysts have also issued research reports about the company. Mizuho started coverage on Enbridge Energy, L.P. in a report on Thursday, September 29th. They set a “buy” rating and a $29.00 price objective for the company. Ladenburg Thalmann reiterated a “buy” rating and set a $27.00 price objective on shares of Enbridge Energy, L.P. in a report on Tuesday, November 1st. Zacks Investment Research lowered Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 3rd. Goldman Sachs Group, Inc. (The) upgraded Enbridge Energy, L.P. from a “sell” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $24.00 in a report on Monday, September 19th. Finally, FBR & Co started coverage on Enbridge Energy, L.P. in a report on Friday, September 9th. They set an “outperform” rating and a $31.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.25.
Shares of Enbridge Energy, L.P. (NYSE:EEP) opened at 25.74 on Friday. The company’s market cap is $9.01 billion. The firm’s 50-day moving average price is $24.47 and its 200 day moving average price is $24.20. Enbridge Energy, L.P. has a 12-month low of $14.27 and a 12-month high of $26.37.
Enbridge Energy, L.P. (NYSE:EEP) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by $0.10. Enbridge Energy, L.P. had a negative net margin of 5.40% and a positive return on equity of 7.81%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.23 EPS. On average, analysts predict that Enbridge Energy, L.P. will post $0.56 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in EEP. Quantbot Technologies LP bought a new stake in shares of Enbridge Energy, L.P. during the third quarter valued at $103,000. Pacad Investment Ltd. acquired a new stake in Enbridge Energy, L.P. during the second quarter worth approximately $104,000. Brown Brothers Harriman & Co. acquired a new stake in Enbridge Energy, L.P. during the third quarter worth approximately $127,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Enbridge Energy, L.P. during the second quarter worth approximately $150,000. Finally, NEXT Financial Group Inc boosted its stake in Enbridge Energy, L.P. by 201.8% in the third quarter. NEXT Financial Group Inc now owns 7,657 shares of the company’s stock worth $195,000 after buying an additional 5,120 shares during the period. 55.63% of the stock is currently owned by institutional investors.
About Enbridge Energy, L.P.
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.
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