Enbridge Energy, L.P. (EEP) Issues Earnings Results, Beats Expectations By $0.03 EPS
Enbridge Energy, L.P. (NYSE:EEP) issued its quarterly earnings data on Thursday. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Enbridge Energy, L.P. had a negative net margin of 5.40% and a positive return on equity of 7.81%. The business earned $1.25 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.11 earnings per share. Enbridge Energy, L.P.’s quarterly revenue was up 10.0% compared to the same quarter last year.
Shares of Enbridge Energy, L.P. (NYSE:EEP) traded down 0.49% during midday trading on Thursday, hitting $18.26. 1,190,182 shares of the stock were exchanged. The firm’s 50-day moving average is $22.59 and its 200-day moving average is $23.88. The stock’s market cap is $6.39 billion. Enbridge Energy, L.P. has a 12 month low of $15.16 and a 12 month high of $26.37.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, February 7th were given a dividend of $0.583 per share. This represents a $2.33 dividend on an annualized basis and a dividend yield of 12.77%. The ex-dividend date of this dividend was Friday, February 3rd. Enbridge Energy, L.P.’s payout ratio is -179.23%.
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EEP has been the subject of several research analyst reports. Mizuho lowered shares of Enbridge Energy, L.P. from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $22.00 in a report on Monday, January 30th. National Bank Financial lowered shares of Enbridge Energy, L.P. from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 25th. RBC Capital Markets reiterated a “hold” rating and set a $24.00 target price on shares of Enbridge Energy, L.P. in a report on Friday, January 6th. Zacks Investment Research upgraded shares of Enbridge Energy, L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $27.00 target price on shares of Enbridge Energy, L.P. in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.92.
Enbridge Energy, L.P. Company Profile
Enbridge Energy Partners, L.P. is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. The Company’s activities include interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities, and supply, transportation and sales services, including purchasing and selling natural gas and NGLs.
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