Enbridge Energy Management LLC (EEQ) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Enbridge Energy Management LLC (NYSE:EEQ) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Enbridge Energy Management is a Delaware limited liability company. They manage and control the business and affairs of Enbridge Partners. They have no assets or operations other than those related to their interest in Enbridge Partners. “

Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of Enbridge Energy Management from an overweight rating to an equal weight rating and reduced their target price for the stock from $21.58 to $19.00 in a research note on Thursday, June 15th. BidaskClub raised shares of Enbridge Energy Management from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $20.00 target price on shares of Enbridge Energy Management in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Enbridge Energy Management has a consensus rating of Buy and a consensus target price of $24.13.

Enbridge Energy Management (NYSE:EEQ) traded up 0.70% during mid-day trading on Tuesday, reaching $15.79. The company had a trading volume of 159,439 shares. Enbridge Energy Management has a 12 month low of $14.45 and a 12 month high of $25.36. The stock’s market cap is $1.35 billion. The firm’s 50-day moving average price is $16.08 and its 200-day moving average price is $19.15.

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Several institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its position in Enbridge Energy Management by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 8,765 shares of the oil and gas producer’s stock worth $161,000 after buying an additional 222 shares in the last quarter. Buckingham Asset Management LLC increased its position in Enbridge Energy Management by 2.6% in the first quarter. Buckingham Asset Management LLC now owns 10,418 shares of the oil and gas producer’s stock worth $192,000 after buying an additional 264 shares in the last quarter. Creative Planning increased its position in Enbridge Energy Management by 194.2% in the first quarter. Creative Planning now owns 11,031 shares of the oil and gas producer’s stock worth $203,000 after buying an additional 7,282 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Enbridge Energy Management by 2.6% in the first quarter. Chicago Partners Investment Group LLC now owns 11,213 shares of the oil and gas producer’s stock worth $207,000 after buying an additional 284 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Enbridge Energy Management during the first quarter worth approximately $213,000. Institutional investors own 77.46% of the company’s stock.

Enbridge Energy Management Company Profile

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