First Capital Advisors Group LLC. continued to hold its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,973 shares of the pipeline company’s stock at the end of the second quarter. First Capital Advisors Group LLC.’s holdings in Enbridge Energy, L.P. were worth $400,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Whittier Trust Co. raised its stake in shares of Enbridge Energy, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock worth $193,000 after buying an additional 1,400 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Enbridge Energy, L.P. during the second quarter worth about $234,000. South Texas Money Management Ltd. acquired a new stake in shares of Enbridge Energy, L.P. during the first quarter worth about $243,000. Beach Investment Management LLC. acquired a new stake in shares of Enbridge Energy, L.P. during the second quarter worth about $245,000. Finally, TradeLink Capital LLC acquired a new stake in shares of Enbridge Energy, L.P. during the second quarter worth about $254,000. 54.96% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Energy, L.P. (NYSE EEP) opened at 14.85 on Friday. Enbridge Energy, L.P. has a 12-month low of $14.60 and a 12-month high of $26.37. The stock has a 50 day moving average price of $15.84 and a 200-day moving average price of $17.56. The stock’s market capitalization is $6.24 billion.
Enbridge Energy, L.P. (NYSE:EEP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.03. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts expect that Enbridge Energy, L.P. will post $0.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 9.43%. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is currently -160.92%.
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A number of brokerages have issued reports on EEP. Mizuho reissued a “neutral” rating and issued a $19.00 price target (down from $22.00) on shares of Enbridge Energy, L.P. in a research note on Wednesday, May 17th. Zacks Investment Research raised Enbridge Energy, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $21.00 price target on shares of Enbridge Energy, L.P. in a research note on Tuesday, June 6th. BidaskClub lowered Enbridge Energy, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Wolfe Research began coverage on Enbridge Energy, L.P. in a research note on Friday, May 12th. They issued a “market perform” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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