Enbridge Energy (NYSE:EEP) had its target price decreased by investment analysts at Barclays from $21.00 to $16.00 in a research report issued to clients and investors on Monday, November 20th. The firm presently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price objective points to a potential upside of 13.15% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Zacks Investment Research upgraded shares of Enbridge Energy from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Tuesday, October 10th. BidaskClub lowered shares of Enbridge Energy from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy in a research note on Sunday, September 17th. Finally, Mizuho reiterated a “hold” rating and set a $17.00 price objective on shares of Enbridge Energy in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Enbridge Energy presently has a consensus rating of “Hold” and a consensus price target of $18.56.
Enbridge Energy (EEP) traded up $0.26 during mid-day trading on Monday, hitting $14.14. 1,073,903 shares of the company were exchanged, compared to its average volume of 1,516,913. Enbridge Energy has a 52-week low of $12.25 and a 52-week high of $26.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $4,597.36, a PE ratio of 20.71 and a beta of 1.20.
Enbridge Energy (NYSE:EEP) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $616.40 million during the quarter, compared to analysts’ expectations of $637.68 million. Enbridge Energy had a net margin of 8.47% and a return on equity of 6.03%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. equities research analysts predict that Enbridge Energy will post 0.72 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in EEP. Tortoise Capital Advisors L.L.C. boosted its holdings in Enbridge Energy by 109.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,619,043 shares of the pipeline company’s stock worth $121,752,000 after buying an additional 3,985,284 shares in the last quarter. Center Coast Capital Advisors LP boosted its holdings in Enbridge Energy by 60.1% during the second quarter. Center Coast Capital Advisors LP now owns 6,006,780 shares of the pipeline company’s stock worth $96,108,000 after buying an additional 2,256,010 shares in the last quarter. Finepoint Capital LP purchased a new stake in Enbridge Energy during the third quarter worth $31,871,000. ING Groep NV boosted its holdings in Enbridge Energy by 584.7% during the third quarter. ING Groep NV now owns 2,090,300 shares of the pipeline company’s stock worth $33,403,000 after buying an additional 1,785,000 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in Enbridge Energy by 11.3% during the third quarter. Alps Advisors Inc. now owns 17,488,243 shares of the pipeline company’s stock worth $279,462,000 after buying an additional 1,768,827 shares in the last quarter. 44.94% of the stock is currently owned by institutional investors and hedge funds.
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Enbridge Energy Company 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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