Enbridge Energy, L.P. (NYSE:EEP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $18.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.43% from the company’s previous close.
According to Zacks, “We like Enbridge Energy’s stable fee-based revenues from diverse energy infrastructure assets. Focus on a low risk business profile helps it to optimize returns, as well as generate stable earnings. Additionally, we like Enbridge’s attractive distribution yield and its increased exposure to leading U.S. basins. Enbridge Energy’s earnings surprise history is also impressive as reflected by the fact that the partnership surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average positive earnings surprise of 22.83%. Moreover, Enbridge Energy’s secured-capital project program of $28 billion is likely to generate huge cash flows and are, hence, lucrative for the investors in the long run.”
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Morgan Stanley downgraded shares of Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $19.00 in a report on Thursday, June 15th. Royal Bank Of Canada reissued a “hold” rating and issued a $21.00 price objective on shares of Enbridge Energy, L.P. in a report on Sunday, September 17th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $17.00 price objective on shares of Enbridge Energy, L.P. in a report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.22.
Enbridge Energy, L.P. (NYSE:EEP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.03). The business had revenue of $596.50 million during the quarter, compared to the consensus estimate of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Equities research analysts predict that Enbridge Energy, L.P. will post $0.86 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC lifted its holdings in shares of Enbridge Energy, L.P. by 143.5% during the 2nd quarter. Private Advisor Group LLC now owns 66,116 shares of the pipeline company’s stock worth $1,053,000 after acquiring an additional 38,968 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Enbridge Energy, L.P. by 2.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock worth $537,000 after acquiring an additional 900 shares during the period. Sippican Capital Advisors lifted its holdings in shares of Enbridge Energy, L.P. by 2.6% during the 2nd quarter. Sippican Capital Advisors now owns 28,920 shares of the pipeline company’s stock worth $463,000 after acquiring an additional 730 shares during the period. Center Coast Capital Advisors LP lifted its holdings in shares of Enbridge Energy, L.P. by 60.1% during the 2nd quarter. Center Coast Capital Advisors LP now owns 6,006,780 shares of the pipeline company’s stock worth $96,108,000 after acquiring an additional 2,256,010 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of Enbridge Energy, L.P. during the 2nd quarter worth approximately $880,000. 42.74% of the stock is owned by institutional investors.
Enbridge Energy, L.P. Company Profile
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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