Enbridge Energy, L.P. (EEP) Set to Announce Quarterly Earnings on Monday
Enbridge Energy, L.P. (NYSE:EEP) will be announcing its earnings results after the market closes on Monday, October 30th.
Enbridge Energy, L.P. (NYSE:EEP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. On average, analysts expect Enbridge Energy, L.P. to post $0.77 EPS for the current fiscal year and $1.05 EPS for the next fiscal year.
Enbridge Energy, L.P. (NYSE:EEP) opened at 14.99 on Monday. The firm has a 50-day moving average price of $15.61 and a 200-day moving average price of $16.29. Enbridge Energy, L.P. has a one year low of $13.87 and a one year high of $26.22. The stock’s market cap is $6.30 billion.
Several analysts recently issued reports on the company. BidaskClub downgraded Enbridge Energy, L.P. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Mizuho reissued a “hold” rating and issued a $17.00 price target on shares of Enbridge Energy, L.P. in a report on Friday. Zacks Investment Research cut Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy, L.P. in a research report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.00.
An institutional investor recently raised its position in Enbridge Energy, L.P. stock. The Manufacturers Life Insurance Company grew its stake in Enbridge Energy, L.P. (NYSE:EEP) by 25.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,625 shares of the pipeline company’s stock after buying an additional 1,959 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Enbridge Energy, L.P. were worth $154,000 as of its most recent SEC filing. 42.75% of the stock is owned by institutional investors and hedge funds.
Enbridge Energy, L.P. Company Profile
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.
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