Enbridge Energy, L.P. (NYSE:EEP) has been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.29.

Several brokerages recently issued reports on EEP. Mizuho restated a “hold” rating and issued a $17.00 price target on shares of Enbridge Energy, L.P. in a research report on Friday, October 20th. Zacks Investment Research cut Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada restated a “hold” rating and issued a $21.00 price target on shares of Enbridge Energy, L.P. in a research report on Sunday, September 17th. Finally, BidaskClub cut Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its position in Enbridge Energy, L.P. by 143.5% during the 2nd quarter. Private Advisor Group LLC now owns 66,116 shares of the pipeline company’s stock worth $1,053,000 after purchasing an additional 38,968 shares during the period. Bridges Investment Management Inc. increased its position in Enbridge Energy, L.P. by 2.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock worth $537,000 after purchasing an additional 900 shares during the period. Sippican Capital Advisors increased its position in Enbridge Energy, L.P. by 2.6% during the 2nd quarter. Sippican Capital Advisors now owns 28,920 shares of the pipeline company’s stock worth $463,000 after purchasing an additional 730 shares during the period. Brookfield Asset Management Inc. increased its position in Enbridge Energy, L.P. by 11.5% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,847,733 shares of the pipeline company’s stock worth $29,564,000 after purchasing an additional 190,900 shares during the period. Finally, Adams Asset Advisors LLC increased its position in Enbridge Energy, L.P. by 20.4% during the 3rd quarter. Adams Asset Advisors LLC now owns 354,418 shares of the pipeline company’s stock worth $5,663,000 after purchasing an additional 60,100 shares during the period. Institutional investors own 42.98% of the company’s stock.

Enbridge Energy, L.P. (NYSE:EEP) last posted its earnings results on Monday, October 30th. The pipeline company reported $0.24 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.24. Enbridge Energy, L.P. had a positive return on equity of 6.68% and a negative net margin of 4.34%. The business had revenue of $616.40 million for the quarter, compared to analysts’ expectations of $637.68 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 9.28%. The ex-dividend date of this dividend is Monday, November 6th. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently -160.92%.

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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.

Analyst Recommendations for Enbridge Energy, L.P. (NYSE:EEP)

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