GenTrust LLC increased its position in shares of Enbridge Energy, L.P. (NYSE:EEP) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,579 shares of the pipeline company’s stock after buying an additional 51 shares during the period. GenTrust LLC’s holdings in Enbridge Energy, L.P. were worth $473,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in EEP. US Bancorp DE increased its stake in shares of Enbridge Energy, L.P. by 15.8% in the first quarter. US Bancorp DE now owns 37,648 shares of the pipeline company’s stock worth $715,000 after buying an additional 5,141 shares during the period. ING Groep NV bought a new stake in shares of Enbridge Energy, L.P. during the first quarter worth approximately $5,801,000. Virtu Financial LLC increased its stake in shares of Enbridge Energy, L.P. by 56.6% in the first quarter. Virtu Financial LLC now owns 38,913 shares of the pipeline company’s stock worth $739,000 after buying an additional 14,062 shares during the period. Whittier Trust Co. raised its stake in Enbridge Energy, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock worth $193,000 after buying an additional 1,400 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Enbridge Energy, L.P. by 10.8% in the first quarter. IFP Advisors Inc now owns 24,910 shares of the pipeline company’s stock worth $473,000 after buying an additional 2,426 shares during the last quarter. Institutional investors own 55.22% of the company’s stock.
Enbridge Energy, L.P. (NYSE:EEP) traded down 0.07% during trading on Friday, reaching $14.43. 1,441,709 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $15.62 and a 200-day moving average price of $17.17. The firm’s market cap is $6.06 billion. Enbridge Energy, L.P. has a 12 month low of $14.28 and a 12 month high of $26.37.
Enbridge Energy, L.P. (NYSE:EEP) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.82 million. Enbridge Energy, L.P. had a positive return on equity of 6.68% and a negative net margin of 4.34%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. On average, analysts forecast that Enbridge Energy, L.P. will post $0.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 9.70%. The ex-dividend date was Thursday, August 3rd. Enbridge Energy, L.P.’s payout ratio is -160.92%.
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A number of research firms have recently issued reports on EEP. Zacks Investment Research upgraded Enbridge Energy, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Mizuho restated a “neutral” rating and issued a $19.00 target price (down previously from $22.00) on shares of Enbridge Energy, L.P. in a report on Wednesday, May 17th. Wolfe Research began coverage on Enbridge Energy, L.P. in a report on Friday, May 12th. They issued a “market perform” rating and a $19.00 target price for the company. Royal Bank Of Canada restated a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. Finally, BidaskClub lowered Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Enbridge Energy, L.P. presently has a consensus rating of “Hold” and a consensus target price of $21.45.
About Enbridge Energy, L.P.
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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