Citadel Advisors LLC Acquires 30,273 Shares of Enbridge Energy Management, L.L.C. (EEQ)

Citadel Advisors LLC grew its holdings in Enbridge Energy Management, L.L.C. (NYSE:EEQ) by 6.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 487,525 shares of the oil and gas producer’s stock after buying an additional 30,273 shares during the period. Citadel Advisors LLC owned 0.48% of Enbridge Energy Management worth $5,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Enbridge Energy Management by 113.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,153,002 shares of the oil and gas producer’s stock worth $12,591,000 after purchasing an additional 612,346 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Enbridge Energy Management during the 3rd quarter worth $9,955,000. Advisory Research Inc. boosted its position in shares of Enbridge Energy Management by 4.8% during the 3rd quarter. Advisory Research Inc. now owns 4,538,597 shares of the oil and gas producer’s stock worth $49,561,000 after purchasing an additional 209,572 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Enbridge Energy Management by 4.9% during the 3rd quarter. AMP Capital Investors Ltd now owns 3,982,138 shares of the oil and gas producer’s stock worth $43,603,000 after purchasing an additional 185,330 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Enbridge Energy Management by 6.9% during the 3rd quarter. BlackRock Inc. now owns 275,188 shares of the oil and gas producer’s stock worth $3,007,000 after purchasing an additional 17,687 shares in the last quarter. Institutional investors and hedge funds own 74.60% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, October 8th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.00.

NYSE:EEQ opened at $10.64 on Friday. Enbridge Energy Management, L.L.C. has a 52-week low of $8.38 and a 52-week high of $14.81.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 13.16%. The ex-dividend date of this dividend was Tuesday, November 6th.

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About Enbridge Energy Management

Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.

Further Reading: Risk Tolerance and Your Investment Decisions

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Institutional Ownership by Quarter for Enbridge Energy Management (NYSE:EEQ)

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