Enbridge Energy Partners, L.P. Price Target Increased to $34.00 by Analysts at RBC Capital (EEP)
Research analysts at RBC Capital raised their target price on shares of Enbridge Energy Partners, L.P. (NYSE:EEP) from $32.00 to $34.00 in a report released on Friday. RBC Capital’s target price points to a potential upside of 0.98% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Enbridge Energy Partners, L.P. in a research note on Friday, July 18th. They now have a $36.00 price target on the stock, up previously from $33.00. Separately, analysts at Barclays raised their price target on shares of Enbridge Energy Partners, L.P. from $32.00 to $37.00 in a research note on Friday, June 20th. They now have an “equal weight” rating on the stock. Finally, analysts at Global Hunter Securities initiated coverage on shares of Enbridge Energy Partners, L.P. in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $33.88.
Shares of Enbridge Energy Partners, L.P. (NYSE:EEP) traded down 2.26% during mid-day trading on Friday, hitting $33.67. 699,095 shares of the company’s stock traded hands. Enbridge Energy Partners, L.P. has a 1-year low of $26.00 and a 1-year high of $37.15. The stock has a 50-day moving average of $34. and a 200-day moving average of $30.41. The company has a market cap of $11.011 billion and a P/E ratio of 240.91.
Enbridge Energy Partners, L.P. (NYSE:EEP) last announced its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.18 earnings per share. Enbridge Energy Partners, L.P.’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that Enbridge Energy Partners, L.P. will post $1.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, August 5th. This is an increase from Enbridge Energy Partners, L.P.’s previous quarterly dividend of $0.54.
Enbridge Energy Partners, L.P. (NYSE:EEP) 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.
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