Enbridge Energy Management (EEQ) Rating Lowered to Sell at Zacks Investment Research

Enbridge Energy Management (NYSE:EEQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Enbridge Energy Management is a Delaware limited liability company. They manage and control the business and affairs of Enbridge Partners. They have no assets or operations other than those related to their interest in Enbridge Partners. “

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reissued a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy Management in a research report on Monday, October 30th. ValuEngine downgraded Enbridge Energy Management from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Bank of America started coverage on Enbridge Energy Management in a research report on Tuesday, January 9th. They set an “underperform” rating and a $14.00 price objective for the company. Finally, Morgan Stanley downgraded Enbridge Energy Management from an “equal weight” rating to an “underweight” rating in a research report on Thursday, January 11th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company. The stock presently has an average rating of “Sell” and an average price target of $17.50.

Shares of Enbridge Energy Management (NYSE EEQ) traded down $0.05 during trading hours on Wednesday, hitting $14.08. The company had a trading volume of 410,728 shares, compared to its average volume of 630,245. The firm has a market cap of $1,280.66, a P/E ratio of -180.35 and a beta of 1.20. Enbridge Energy Management has a 1 year low of $12.03 and a 1 year high of $26.20.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new position in Enbridge Energy Management in the 3rd quarter valued at about $104,000. Saratoga Research & Investment Management acquired a new position in Enbridge Energy Management in the 3rd quarter valued at about $104,000. Quantbot Technologies LP acquired a new position in Enbridge Energy Management in the 2nd quarter valued at about $113,000. M&T Bank Corp grew its position in Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock valued at $163,000 after acquiring an additional 201 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Enbridge Energy Management by 87.8% in the 2nd quarter. D.A. Davidson & CO. now owns 12,326 shares of the oil and gas producer’s stock valued at $189,000 after acquiring an additional 5,761 shares in the last quarter. 74.57% of the stock is owned by institutional investors.

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Enbridge Energy Management Company Profile

Enbridge Energy Management, LLC is a limited partner of Enbridge Energy Partners, L.P. (the Partnership). The Company owns i-units, a special class of the Partnership’s limited partner interests. The Company manages the business of the Partnership. The Partnership owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States.

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