Maple Brown Abbott Ltd raised its position in Enbridge Energy, L.P. (NYSE:EEP) by 25.7% during the second quarter, Holdings Channel reports. The fund owned 1,437,731 shares of the pipeline company’s stock after buying an additional 293,700 shares during the period. Enbridge Energy, L.P. comprises 2.4% of Maple Brown Abbott Ltd’s holdings, making the stock its 17th largest position. Maple Brown Abbott Ltd’s holdings in Enbridge Energy, L.P. were worth $23,004,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Enbridge Energy, L.P. by 31.1% in the second quarter. Global X Management Co. LLC now owns 1,260,131 shares of the pipeline company’s stock worth $20,162,000 after buying an additional 298,862 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Enbridge Energy, L.P. by 7.5% in the second quarter. Cullen Frost Bankers Inc. now owns 18,530 shares of the pipeline company’s stock worth $296,000 after buying an additional 1,300 shares during the last quarter. Novare Capital Management LLC boosted its stake in shares of Enbridge Energy, L.P. by 0.4% in the second 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 during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Enbridge Energy, L.P. by 697.9% in the second quarter. Chicago Partners Investment Group LLC now owns 24,512 shares of the pipeline company’s stock worth $523,000 after buying an additional 21,440 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Enbridge Energy, L.P. by 35.2% in the second quarter. Sei Investments Co. now owns 48,429 shares of the pipeline company’s stock worth $774,000 after buying an additional 12,600 shares during the last quarter. Hedge funds and other institutional investors own 54.96% of the company’s stock.

Enbridge Energy, L.P. (NYSE:EEP) opened at 14.87 on Thursday. The company has a 50-day moving average of $15.84 and a 200-day moving average of $17.58. The firm’s market cap is $6.24 billion. Enbridge Energy, L.P. has a 1-year low of $14.65 and a 1-year high of $26.37.

Enbridge Energy, L.P. (NYSE:EEP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.03. The firm had revenue of $596.50 million for the quarter, compared to analyst estimates of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. Analysts predict that Enbridge Energy, L.P. will post $0.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date of this dividend is Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio is currently -160.92%.

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A number of analysts recently weighed in on the stock. BidaskClub cut shares of Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co restated a “neutral” rating and set a $17.00 target price on shares of Enbridge Energy, L.P. in a report on Friday, June 23rd. Morgan Stanley cut shares of Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $19.00 in a report on Thursday, June 15th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $21.00 target price on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price 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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