IFP Advisors Inc reduced its position in shares of Enbridge Energy, L.P. (NYSE:EEP) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 24,813 shares of the pipeline company’s stock after selling 97 shares during the period. IFP Advisors Inc’s holdings in Enbridge Energy, L.P. were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EEP. Capital Investment Advisors LLC purchased a new position in Enbridge Energy, L.P. during the first quarter worth $546,000. WealthTrust Arizona LLC boosted its position in Enbridge Energy, L.P. by 2.3% in the first quarter. WealthTrust Arizona LLC now owns 32,061 shares of the pipeline company’s stock worth $609,000 after buying an additional 716 shares during the last quarter. Cypress Capital Management LLC WY boosted its position in Enbridge Energy, L.P. by 3,712.5% in the first quarter. Cypress Capital Management LLC WY now owns 30,500 shares of the pipeline company’s stock worth $580,000 after buying an additional 29,700 shares during the last quarter. Huntington National Bank boosted its position in Enbridge Energy, L.P. by 197.6% in the first quarter. Huntington National Bank now owns 79,157 shares of the pipeline company’s stock worth $1,504,000 after buying an additional 52,559 shares during the last quarter. Finally, Rothschild Investment Corp IL boosted its position in Enbridge Energy, L.P. by 1.8% in the first quarter. Rothschild Investment Corp IL now owns 69,250 shares of the pipeline company’s stock worth $1,316,000 after buying an additional 1,250 shares during the last quarter. 55.22% of the stock is owned by institutional investors.

Shares of Enbridge Energy, L.P. (NYSE:EEP) opened at 14.68 on Tuesday. Enbridge Energy, L.P. has a 1-year low of $14.60 and a 1-year high of $26.36. The stock’s 50 day moving average is $15.79 and its 200-day moving average is $17.30. The stock’s market cap is $6.17 billion.

Enbridge Energy, L.P. (NYSE:EEP) last announced its quarterly earnings data 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 company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.82 million. During the same quarter last year, the business earned $0.22 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts predict that Enbridge Energy, L.P. will post $0.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors 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 was Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is -160.92%.

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A number of research analysts have weighed in on EEP shares. Zacks Investment Research cut shares of Enbridge Energy, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. Wolfe Research started coverage on shares of Enbridge Energy, L.P. in a report on Friday, May 12th. They issued a “market perform” rating and a $19.00 price objective for the company. Mizuho reaffirmed a “neutral” rating and issued a $19.00 price objective (down previously from $22.00) on shares of Enbridge Energy, L.P. in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. Finally, BidaskClub cut shares of Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $21.45.

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.

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Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

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