Investors Purchase Large Volume of Enbridge Energy Call Options (EEP)

Enbridge Energy, L.P. (NYSE:EEP) saw unusually large options trading activity on Thursday. Stock traders acquired 1,674 call options on the stock. This is an increase of approximately 1,096% compared to the average volume of 140 call options.

Several hedge funds have recently added to or reduced their stakes in EEP. The Manufacturers Life Insurance Company boosted its holdings in shares of Enbridge Energy by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 1,959 shares during the last quarter. PARK CIRCLE Co purchased a new stake in shares of Enbridge Energy in the 2nd quarter valued at $160,000. Walter & Keenan Financial Consulting Co. MI ADV boosted its holdings in shares of Enbridge Energy by 297.0% in the 3rd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 40,100 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 30,000 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Enbridge Energy in the 3rd quarter valued at $167,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Enbridge Energy by 135.1% in the 2nd quarter. Penserra Capital Management LLC now owns 11,557 shares of the pipeline company’s stock valued at $184,000 after acquiring an additional 6,641 shares during the last quarter. 44.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of Enbridge Energy (NYSE:EEP) opened at $14.77 on Friday. The company has a market cap of $4,822.66, a price-to-earnings ratio of 21.72 and a beta of 1.20. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.94. Enbridge Energy has a twelve month low of $12.25 and a twelve month high of $26.17.

Enbridge Energy (NYSE:EEP) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $616.40 million for the quarter, compared to the consensus estimate 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 for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. sell-side analysts predict that Enbridge Energy will post 0.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend was Monday, November 6th. Enbridge Energy’s dividend payout ratio (DPR) is currently 222.23%.

Several research firms have weighed in on EEP. Zacks Investment Research raised shares of Enbridge Energy from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, October 10th. Royal Bank Of Canada reissued a “hold” rating and set 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 target price on shares of Enbridge Energy in a research report on Friday, October 20th. Morgan Stanley dropped their target price on shares of Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, Barclays dropped their target price on shares of Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, November 20th. One equities research 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 a consensus rating of “Hold” and a consensus price target of $18.56.

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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.

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