Enbridge Energy Partners (EEP) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Enbridge Energy Partners (NYSE:EEP) in a research report report published on Tuesday morning, The Fly reports. The brokerage issued an underperform rating on the pipeline company’s stock.

Other analysts have also issued reports about the company. Barclays decreased their target price on Enbridge Energy Partners from $21.00 to $16.00 and set an equal weight rating for the company in a research report on Monday, November 20th. Morgan Stanley cut their target price on Enbridge Energy Partners from $18.00 to $17.00 and set an equal weight rating on the stock in a research note on Friday, November 17th. Zacks Investment Research upgraded Enbridge Energy Partners from a hold rating to a strong-buy rating and set a $18.00 target price on the stock in a research note on Tuesday, October 10th. Royal Bank of Canada reiterated a hold rating and issued a $21.00 price objective on shares of Enbridge Energy Partners in a research note on Sunday, September 17th. Finally, Mizuho reiterated a hold rating and issued a $17.00 price objective on shares of Enbridge Energy Partners in a research note on Friday, October 20th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Enbridge Energy Partners has an average rating of Hold and an average target price of $18.56.

Shares of Enbridge Energy Partners (NYSE EEP) opened at $15.21 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.94. Enbridge Energy Partners has a twelve month low of $12.25 and a twelve month high of $26.07. The firm has a market capitalization of $4,970.00, a price-to-earnings ratio of 20.28 and a beta of 1.19.

Enbridge Energy Partners (NYSE:EEP) last announced its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The firm had revenue of $616.40 million for the quarter, compared to the consensus estimate of $637.68 million. Enbridge Energy Partners had a return on equity of 6.03% and a net margin of 8.47%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. research analysts forecast that Enbridge Energy Partners will post 0.72 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Enbridge Energy Partners by 25.6% in the second quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 1,959 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV lifted its stake in shares of Enbridge Energy Partners by 297.0% during 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 buying an additional 30,000 shares in the last quarter. Wedbush Securities Inc. purchased a new position in shares of Enbridge Energy Partners during the 3rd quarter valued at $167,000. Tower Research Capital LLC TRC lifted its stake in shares of Enbridge Energy Partners by 8,618.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,683 shares of the pipeline company’s stock valued at $187,000 after buying an additional 11,549 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Enbridge Energy Partners by 2.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,253 shares of the pipeline company’s stock valued at $196,000 after buying an additional 293 shares in the last quarter. 44.91% of the stock is owned by institutional investors.

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Enbridge Energy Partners Company Profile

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.

The Fly

Analyst Recommendations for Enbridge Energy Partners (NYSE:EEP)

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