Enbridge Energy Management LLC (EEQ) Sets New 12-Month Low at $13.95

Enbridge Energy Management LLC (NYSE:EEQ)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.95 and last traded at $13.94, with a volume of 306,310 shares trading hands. The stock had previously closed at $14.12.

EEQ has been the subject of a number of recent research reports. Zacks Investment Research raised Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, May 23rd. Morgan Stanley downgraded Enbridge Energy Management from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $21.58 to $19.00 in a research report on Thursday, June 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $20.00 price target on shares of Enbridge Energy Management in a research report on Friday, April 28th. Finally, BidaskClub raised Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Enbridge Energy Management presently has an average rating of “Hold” and an average price target of $23.86.

The firm has a 50-day moving average price of $14.93 and a 200-day moving average price of $16.70. The stock’s market capitalization is $1.19 billion.

Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Enbridge Energy Management by 24.6% in the fourth quarter. State Street Corp now owns 106,201 shares of the oil and gas producer’s stock valued at $2,752,000 after buying an additional 20,999 shares in the last quarter. Creative Planning increased its stake 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 valued at $203,000 after buying an additional 7,282 shares in the last quarter. Bank of Montreal Can increased its stake in Enbridge Energy Management by 9.8% in the first quarter. Bank of Montreal Can now owns 29,237 shares of the oil and gas producer’s stock valued at $539,000 after buying an additional 2,616 shares in the last quarter. SFE Investment Counsel increased its stake in Enbridge Energy Management by 44.0% in the first quarter. SFE Investment Counsel now owns 126,829 shares of the oil and gas producer’s stock valued at $2,336,000 after buying an additional 38,755 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Enbridge Energy Management by 2.6% in the first quarter. Nisa Investment Advisors LLC now owns 21,425 shares of the oil and gas producer’s stock valued at $395,000 after buying an additional 542 shares in the last quarter. Hedge funds and other institutional investors own 80.33% of the company’s stock.

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