Enbridge Energy Partners (NYSE:EEP) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of Enbridge Energy Partners (NYSE:EEP) in a research report report published on Tuesday, January 9th, The Fly reports. The brokerage issued an underperform rating on the pipeline company’s stock.

EEP has been the topic of a number of other research reports. Morgan Stanley lowered their price target on Enbridge Energy Partners from $18.00 to $17.00 and set an equal weight rating on the stock in a research report on Friday, November 17th. Mizuho reiterated a hold rating and set a $17.00 price target on shares of Enbridge Energy Partners in a research report on Friday, October 20th. Zacks Investment Research upgraded Enbridge Energy Partners from a strong sell rating to a hold rating in a research report on Wednesday, January 3rd. Royal Bank of Canada restated a hold rating and issued a $21.00 target price on shares of Enbridge Energy Partners in a research report on Sunday, September 17th. Finally, Barclays decreased their target price on Enbridge Energy Partners from $21.00 to $16.00 and set an equal weight rating on the stock in a research report on Monday, November 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Enbridge Energy Partners currently has an average rating of Hold and an average price target of $18.56.

Shares of Enbridge Energy Partners (NYSE EEP) traded down $0.18 during mid-day trading on Tuesday, hitting $15.03. The stock had a trading volume of 1,520,700 shares, compared to its average volume of 1,617,040. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $4,910.00, a price-to-earnings ratio of 20.04 and a beta of 1.19. Enbridge Energy Partners has a fifty-two week low of $12.25 and a fifty-two week high of $25.97.

Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $616.40 million for the quarter, compared to analyst estimates of $637.68 million. Enbridge Energy Partners had a return on equity of 6.03% and a net margin of 8.47%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. equities analysts expect that Enbridge Energy Partners will post 0.71 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of EEP. Alps Advisors Inc. boosted its holdings in Enbridge Energy Partners by 11.3% in the third quarter. Alps Advisors Inc. now owns 17,488,243 shares of the pipeline company’s stock valued at $279,462,000 after purchasing an additional 1,768,827 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in Enbridge Energy Partners by 109.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,619,043 shares of the pipeline company’s stock valued at $121,752,000 after purchasing an additional 3,985,284 shares during the period. Center Coast Capital Advisors LP boosted its holdings in Enbridge Energy Partners by 8.5% in the third quarter. Center Coast Capital Advisors LP now owns 6,518,852 shares of the pipeline company’s stock valued at $104,171,000 after purchasing an additional 512,072 shares during the period. Bank of Montreal Can boosted its holdings in Enbridge Energy Partners by 9.9% in the fourth quarter. Bank of Montreal Can now owns 3,838,375 shares of the pipeline company’s stock valued at $53,008,000 after purchasing an additional 345,920 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Enbridge Energy Partners by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 3,616,030 shares of the pipeline company’s stock valued at $56,916,000 after purchasing an additional 172,684 shares during the period. 44.91% of the stock is owned by institutional investors and hedge funds.

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Enbridge Energy Partners Company Profile

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.

The Fly

Analyst Recommendations for Enbridge Energy Partners (NYSE:EEP)

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