Enbridge Energy (NYSE:EEP) had its price target dropped by equities researchers at Barclays from $21.00 to $16.00 in a report issued on Monday, November 20th. The firm presently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price objective would suggest a potential upside of 15.27% from the stock’s current price.
A number of other research firms have also issued reports on EEP. Morgan Stanley decreased their target price on Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Mizuho reissued a “hold” rating and set a $17.00 price target on shares of Enbridge Energy in a report on Friday, October 20th. Zacks Investment Research lowered Enbridge Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Enbridge Energy in a report on Sunday, September 17th. Finally, BidaskClub lowered Enbridge Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.56.
Shares of Enbridge Energy (NYSE:EEP) traded down $0.20 on Monday, hitting $13.88. The stock had a trading volume of 1,335,874 shares, compared to its average volume of 1,518,798. The stock has a market capitalization of $4,490.00, a P/E ratio of 21.11 and a beta of 1.19. Enbridge Energy has a 1 year low of $12.25 and a 1 year high of $26.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.94.
Enbridge Energy (NYSE:EEP) last announced its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $616.40 million during the quarter, compared to analysts’ expectations of $637.68 million. Enbridge Energy had a return on equity of 6.03% and a net margin of 8.47%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. equities research analysts expect that Enbridge Energy will post 0.72 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. increased its holdings in shares of Enbridge Energy by 11.3% during the 3rd quarter. Alps Advisors Inc. now owns 17,488,243 shares of the pipeline company’s stock worth $279,462,000 after buying an additional 1,768,827 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Enbridge Energy by 109.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,619,043 shares of the pipeline company’s stock valued at $121,752,000 after purchasing an additional 3,985,284 shares in the last quarter. Center Coast Capital Advisors LP raised its stake in shares of Enbridge Energy by 8.5% in the 3rd quarter. Center Coast Capital Advisors LP now owns 6,518,852 shares of the pipeline company’s stock valued at $104,171,000 after purchasing an additional 512,072 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Enbridge Energy by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,616,030 shares of the pipeline company’s stock valued at $56,916,000 after purchasing an additional 172,684 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Enbridge Energy by 2.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,989,883 shares of the pipeline company’s stock valued at $47,776,000 after purchasing an additional 66,500 shares in the last quarter. Institutional investors own 44.94% of the company’s stock.
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Enbridge Energy Company Profile
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.
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