A number of other research firms also recently commented on EEP. Ladenburg Thalmann reinitiated Enbridge Energy Partners, L.P. (NYSE:EEP) rating on Tuesday, November 1. Out of 18 Wall Street analysts rating Enbridge Energy Partners, 7 give it "Buy", 0 "Sell" rating, while 11 recommend "Hold". The pipeline company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.17 by $0.03. They set a market perform rating for the company. Royal Bank Of Canada reiterated a "hold" rating and set a $21.00 price objective on shares of Enbridge Energy, L.P.in a research note on Tuesday, June 6th. They issued a "market perform" rating and a $19.00 price target on the stock. Institutional investors and hedge funds own 78.66% of the company's stock.
JP Morgan began new coverage on Enbridge Energy, L.P. giving the company a "neutral" rating. Enbridge Energy, L.P. (NYSE EEP) opened at 14.84 on Wednesday. Its share price has decline -16.49% in three months and is down -6.37% for the last five trades. The firm's 50 day moving average price is $15.01 and its 200-day moving average price is $17.06. The company's market capitalization is $1.24 billion.
Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 7.68%. (NYSE:EEP) last posted its earnings results on Wednesday, August 2nd.
As of the last earnings report the EPS was $-0.99 and is projected to be $0.78 for the current year with 354,017,000 shares now outstanding. Infrastructure Capital Advisors LLC increased its position in Enbridge Energy, L.P.by 100.4% in the first quarter. Next quarter's EPS is forecasted to be $0.18 with next year's EPS anticipated to be $0.92. Enbridge Energy, L.P.'s revenue for the quarter was down 4.0% on a year-over-year basis.More news: N Korea threatens to attack U.S. bases in Guam
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WARNING: "BidaskClub Lowers Enbridge Energy, L.P. (NYSE:EEP) to Sell" was published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and worldwide trademark & copyright legislation. Shareholders of record on Monday, August 7th will be issued a $0.35 dividend. The ex-dividend date will be on Thursday the 3rd of August 2017. The dividend payment will be $0.350 per share for the quarter or $1.40 annualized. Enbridge Energy, L.P. has a payout ratio of 191.8% indicating that the company can not now cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Other large investors have also bought and sold shares of the company. South Texas Money Management Ltd. purchased a new stake in shares of Enbridge Energy, L.P. during the first quarter worth about $243,000. Virginia Retirement Systems ET AL boosted its position in Enbridge Energy Management by 1.9% in the second quarter. The overall volume in the last trading session was 1.01 million shares. UBS Group AG boosted its position in Enbridge Energy, L.P.by 63.9% in the first quarter.
As of the end of the quarter Atlantic Trust Group, LLC had bought 27 shares growing its position 1.9%. Chicago Partners Investment Group LLC boosted its stake in Enbridge Energy Management by 2.6% in the first quarter. Buckingham Asset Management LLC now owns 10,418 shares of the oil and gas producer's stock worth $192,000 after buying an additional 264 shares during the period.
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.