Enbridge Energy Management, L.L.C. (EEQ) Sees Large Increase in Short Interest

Enbridge Energy Management, L.L.C. (NYSE:EEQ) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 2,445,784 shares, a growth of 52.4% from the November 30th total of 1,605,182 shares. Based on an average daily volume of 673,289 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.1% of the shares of the company are sold short.

Shares of Enbridge Energy Management (EEQ) opened at $14.33 on Thursday. The firm has a market capitalization of $1,250.00, a P/E ratio of -204.71 and a beta of 1.19. Enbridge Energy Management has a fifty-two week low of $12.03 and a fifty-two week high of $26.53.

Hedge funds have recently made changes to their positions in the stock. Saratoga Research & Investment Management acquired a new stake in Enbridge Energy Management in the 3rd quarter valued at $104,000. Cedar Wealth Management LLC acquired a new stake in Enbridge Energy Management in the 3rd quarter valued at $104,000. Quantbot Technologies LP acquired a new stake in Enbridge Energy Management in the 2nd quarter valued at $113,000. Great West Life Assurance Co. Can boosted its stake in Enbridge Energy Management by 2.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock valued at $137,000 after buying an additional 171 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 201 shares in the last quarter. 74.57% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on EEQ. Zacks Investment Research raised Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday. ValuEngine lowered Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Royal Bank of Canada reissued a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy Management in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Enbridge Energy Management has a consensus rating of “Hold” and an average price target of $18.67.

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