Enbridge Energy, L.P. (NYSE:EEP) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $14.42 and last traded at $14.41, with a volume of 752,839 shares changing hands. The stock had previously closed at $14.68.

A number of research firms have recently commented on EEP. BidaskClub downgraded Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. J P Morgan Chase & Co reiterated a “neutral” rating and set a $17.00 target price on shares of Enbridge Energy, L.P. in a research report on Friday, June 23rd. Morgan Stanley downgraded Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $20.00 to $19.00 in a research report on Thursday, June 15th. Finally, Mizuho reiterated a “neutral” rating and set a $19.00 target price (down from $22.00) on shares of Enbridge Energy, L.P. in a research report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Enbridge Energy, L.P. presently has an average rating of “Hold” and an average price target of $21.45.

The company’s market capitalization is $6.06 billion. The stock has a 50 day moving average price of $15.79 and a 200 day moving average price of $17.30.

Enbridge Energy, L.P. (NYSE:EEP) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The business had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.82 million. During the same period last year, the company earned $0.22 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts anticipate that Enbridge Energy, L.P. will post $0.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.54%. The ex-dividend date of this dividend was Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently -160.92%.

Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of 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 valued at $715,000 after buying an additional 5,141 shares during the period. ING Groep NV acquired a new position in shares of Enbridge Energy, L.P. during the first quarter valued at approximately $5,801,000. Virtu Financial LLC raised its position in shares of Enbridge Energy, L.P. by 56.6% in the first quarter. Virtu Financial LLC now owns 38,913 shares of the pipeline company’s stock valued at $739,000 after buying an additional 14,062 shares during the period. Whittier Trust Co. raised its position in shares of Enbridge Energy, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock valued at $193,000 after buying an additional 1,400 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Enbridge Energy, L.P. by 10.8% in the first quarter. IFP Advisors Inc now owns 24,910 shares of the pipeline company’s stock valued at $473,000 after buying an additional 2,426 shares during the period. 55.22% of the stock is currently owned by institutional investors and hedge funds.

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Enbridge Energy, L.P. Company Profile

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.

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