Private Advisor Group LLC Has $417,000 Stake in Enbridge Energy, L.P. (EEP)
Private Advisor Group LLC lowered its stake in Enbridge Energy, L.P. (NYSE:EEP) by 60.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,068 shares of the pipeline company’s stock after selling 40,048 shares during the period. Private Advisor Group LLC’s holdings in Enbridge Energy were worth $417,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EEP. State of New Jersey Common Pension Fund D increased its holdings in shares of Enbridge Energy by 55.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 88,900 shares of the pipeline company’s stock worth $1,422,000 after buying an additional 31,800 shares during the period. Sei Investments Co. increased its holdings in shares of Enbridge Energy 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 period. Beach Investment Management LLC. purchased a new position in shares of Enbridge Energy in the second quarter worth about $245,000. Fiduciary Financial Services of The Southwest Inc. TX increased its holdings in shares of Enbridge Energy by 6.6% in the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 42,868 shares of the pipeline company’s stock worth $686,000 after buying an additional 2,637 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Enbridge Energy by 3.6% in the second quarter. Alps Advisors Inc. now owns 15,719,416 shares of the pipeline company’s stock worth $251,511,000 after buying an additional 544,249 shares during the period. Hedge funds and other institutional investors own 44.94% of the company’s stock.
Shares of Enbridge Energy, L.P. (EEP) opened at $14.49 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $4,718.17, a P/E ratio of 21.25 and a beta of 1.20. Enbridge Energy, L.P. has a 12-month low of $12.25 and a 12-month high of $26.17.
Enbridge Energy (NYSE:EEP) last posted its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The business had revenue of $616.40 million for the quarter, compared to analysts’ expectations of $637.68 million. Enbridge Energy had a return on equity of 6.03% and a net margin of 8.47%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. equities research analysts anticipate that Enbridge Energy, L.P. will post 0.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were given a dividend of $0.35 per share. The ex-dividend date was Monday, November 6th. This represents a $1.40 annualized dividend and a yield of 9.66%. Enbridge Energy’s payout ratio is 222.23%.
Several research analysts have recently commented on the company. Barclays decreased their price objective on Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, November 20th. Morgan Stanley cut their target price on Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Mizuho reissued a “hold” rating and issued a $17.00 target price on shares of Enbridge Energy in a research note on Friday, October 20th. Zacks Investment Research cut Enbridge Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy in a research note on Sunday, September 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Enbridge Energy presently has an average rating of “Hold” and a consensus target price of $18.56.
Enbridge Energy Profile
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.
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