Enbridge Energy Partners, L.P. Stock Rating Reaffirmed by Citigroup Inc. (EEP)
Enbridge Energy Partners, L.P. (NYSE:EEP)‘s stock had its “neutral” rating restated by stock analysts at Citigroup Inc. in a report issued on Wednesday. They currently have a $34.50 price objective on the stock, up from their previous price objective of $28.00. Citigroup Inc.’s price objective suggests a potential upside of 2.04% from the stock’s previous close.
Shares of Enbridge Energy Partners, L.P. (NYSE:EEP) traded up 0.72% on Wednesday, hitting $34.055. 118,520 shares of the company’s stock traded hands. Enbridge Energy Partners, L.P. has a 52 week low of $26.00 and a 52 week high of $37.15. The stock’s 50-day moving average is $35.04 and its 200-day moving average is $30.64. The company’s market cap is $11.178 billion.
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 $0.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders 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 6.57%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a positive change from Enbridge Energy Partners, L.P.’s previous quarterly dividend of $0.54.
A number of other firms have also recently commented on EEP. Analysts at RBC Capital raised their price target on shares of Enbridge Energy Partners, L.P. from $32.00 to $34.00 in a research note on Friday, August 1st. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Enbridge Energy Partners, L.P. has a consensus rating of “Hold” and a consensus target price of $34.36.
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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