BidaskClub cut shares of Enbridge Energy, L.P. (NYSE:EEP) from a hold rating to a sell rating in a report issued on Friday morning.

EEP has been the topic of a number of other reports. Credit Suisse Group reaffirmed a neutral rating and set a $20.00 price objective on shares of Enbridge Energy, L.P. in a report on Friday, April 7th. Zacks Investment Research downgraded Enbridge Energy, L.P. from a hold rating to a strong sell rating in a report on Tuesday, April 25th. Wells Fargo & Company started coverage on Enbridge Energy, L.P. in a report on Friday, March 31st. They set a market perform rating on the stock. Wolfe Research started coverage on Enbridge Energy, L.P. in a report on Friday, May 12th. They set a market perform rating and a $19.00 price objective on the stock. Finally, J P Morgan Chase & Co reaffirmed a neutral rating and set a $17.00 price objective on shares of Enbridge Energy, L.P. in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $21.83.

Shares of Enbridge Energy, L.P. (NYSE:EEP) opened at 15.64 on Friday. Enbridge Energy, L.P. has a 12 month low of $14.68 and a 12 month high of $26.36. The stock’s 50 day moving average price is $15.93 and its 200-day moving average price is $17.99. The firm’s market capitalization is $5.54 billion.

Enbridge Energy, L.P. (NYSE:EEP) last released its earnings results on Wednesday, May 10th. The pipeline company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.04 billion. Enbridge Energy, L.P. had a positive return on equity of 9.17% and a negative net margin of 3.85%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, equities analysts anticipate that Enbridge Energy, L.P. will post $0.73 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “BidaskClub Lowers Enbridge Energy, L.P. (EEP) to Sell” was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/bidaskclub-lowers-enbridge-energy-l-p-eep-to-sell/1465282.html.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date is Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is currently -140.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of EEP. Comerica Bank boosted its position in Enbridge Energy, L.P. by 8.6% in the fourth quarter. Comerica Bank now owns 9,480 shares of the pipeline company’s stock worth $243,000 after buying an additional 748 shares during the period. Hutner Capital Management Inc. boosted its position in Enbridge Energy, L.P. by 0.7% in the first quarter. Hutner Capital Management Inc. now owns 82,740 shares of the pipeline company’s stock worth $1,572,000 after buying an additional 605 shares during the period. US Bancorp DE boosted its position in Enbridge Energy, L.P. by 15.8% in the first quarter. US Bancorp DE now owns 37,648 shares of the pipeline company’s stock worth $715,000 after buying an additional 5,141 shares during the period. South Texas Money Management Ltd. purchased a new position in Enbridge Energy, L.P. during the first quarter worth about $243,000. Finally, PNC Financial Services Group Inc. boosted its position in Enbridge Energy, L.P. by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 259,439 shares of the pipeline company’s stock worth $4,930,000 after buying an additional 8,707 shares during the period. Institutional investors own 54.53% of the company’s stock.

About Enbridge Energy, L.P.

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)

Receive News & Ratings for Enbridge Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Energy L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.