Mariner Investment Group LLC trimmed its holdings in Enbridge Energy, L.P. (NYSE:EEP) by 50.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,500 shares of the pipeline company’s stock after selling 140,100 shares during the quarter. Enbridge Energy, L.P. comprises 1.4% of Mariner Investment Group LLC’s portfolio, making the stock its 17th largest holding. Mariner Investment Group LLC’s holdings in Enbridge Energy, L.P. were worth $2,181,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Oppenheimer & Co. Inc. grew its holdings in Enbridge Energy, L.P. by 2.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,253 shares of the pipeline company’s stock worth $196,000 after buying an additional 293 shares in the last quarter. Novare Capital Management LLC grew its holdings in Enbridge Energy, L.P. by 0.4% in the 2nd quarter. Novare Capital Management LLC now owns 133,150 shares of the pipeline company’s stock worth $2,130,000 after buying an additional 500 shares in the last quarter. Sippican Capital Advisors grew its holdings in Enbridge Energy, L.P. by 2.6% in the 2nd quarter. Sippican Capital Advisors now owns 28,920 shares of the pipeline company’s stock worth $463,000 after buying an additional 730 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in Enbridge Energy, L.P. by 2.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock valued at $537,000 after purchasing an additional 900 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Enbridge Energy, L.P. by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 119,614 shares of the pipeline company’s stock valued at $1,914,000 after purchasing an additional 1,207 shares in the last quarter. 42.99% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. BidaskClub lowered Enbridge Energy, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Mizuho reaffirmed a “hold” rating and set a $17.00 price target on shares of Enbridge Energy, L.P. in a research note on Friday, October 20th. Zacks Investment Research lowered Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of Enbridge Energy, L.P. in a research note on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Enbridge Energy, L.P. has an average rating of “Hold” and an average target price of $19.13.

Shares of Enbridge Energy, L.P. (NYSE:EEP) traded down $0.46 during trading hours on Monday, hitting $14.44. The stock had a trading volume of 471,682 shares, compared to its average volume of 1,294,063. Enbridge Energy, L.P. has a one year low of $13.87 and a one year high of $26.17. The firm has a market cap of $4,865.10, a P/E ratio of 21.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.31 and a quick ratio of 0.31.

Enbridge Energy, L.P. (NYSE:EEP) last announced its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Enbridge Energy, L.P. had a return on equity of 6.03% and a net margin of 8.47%. The company had revenue of $616.40 million during the quarter, compared to the consensus estimate of $637.68 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. research analysts expect that Enbridge Energy, L.P. will post 0.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.70%. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently 222.23%.

WARNING: “Enbridge Energy, L.P. (EEP) Position Cut by Mariner Investment Group LLC” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/enbridge-energy-l-p-eep-position-cut-by-mariner-investment-group-llc/1683415.html.

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.

Institutional Ownership by Quarter 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.