ING Groep NV Has $33.40 Million Position in Enbridge Energy, L.P. (EEP)

ING Groep NV grew its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) by 584.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090,300 shares of the pipeline company’s stock after buying an additional 1,785,000 shares during the quarter. ING Groep NV owned 0.64% of Enbridge Energy worth $33,403,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Alps Advisors Inc. lifted its holdings in shares of Enbridge Energy by 11.3% during the third quarter. Alps Advisors Inc. now owns 17,488,243 shares of the pipeline company’s stock valued at $279,462,000 after purchasing an additional 1,768,827 shares during the last quarter. Center Coast Capital Advisors LP lifted its holdings in shares of Enbridge Energy by 8.5% during the third quarter. Center Coast Capital Advisors LP now owns 6,518,852 shares of the pipeline company’s stock valued at $104,171,000 after purchasing an additional 512,072 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enbridge Energy by 2.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 2,989,883 shares of the pipeline company’s stock valued at $47,776,000 after purchasing an additional 66,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Enbridge Energy by 3.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,326,739 shares of the pipeline company’s stock valued at $37,228,000 after purchasing an additional 81,697 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its holdings in shares of Enbridge Energy by 58.5% during the third quarter. Global X MANAGEMENT CO LLC now owns 1,997,140 shares of the pipeline company’s stock valued at $31,914,000 after purchasing an additional 737,009 shares during the last quarter. 44.94% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on EEP shares. Barclays lowered their target price on shares of Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday, November 20th. Zacks Investment Research raised 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 research report on Tuesday, October 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy in a research report on Sunday, September 17th. Mizuho reissued a “hold” rating and set a $17.00 price objective on shares of Enbridge Energy in a research report on Friday, October 20th. Finally, Morgan Stanley cut 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Enbridge Energy has an average rating of “Hold” and an average price target of $18.56.

Shares of Enbridge Energy, L.P. (NYSE EEP) opened at $14.14 on Friday. 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 stock has a market cap of $4,597.36, a PE ratio of 20.71 and a beta of 1.20. Enbridge Energy, L.P. has a 1 year low of $12.25 and a 1 year high of $26.17.

Enbridge Energy (NYSE:EEP) last announced its earnings results 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 firm had revenue of $616.40 million for 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 business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. sell-side analysts anticipate that Enbridge Energy, L.P. will post 0.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were issued 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 9.90%. Enbridge Energy’s payout ratio is 222.23%.

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About Enbridge Energy

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.

Institutional Ownership by Quarter for Enbridge Energy (NYSE:EEP)

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