Enbridge Energy Management LLC (NYSE:EEQ) Lowered to “Hold” at Zacks Investment Research

Enbridge Energy Management LLC (NYSE:EEQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, October 17th.

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. “

Several other analysts also recently commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Enbridge Energy Management in a report on Wednesday, September 27th. BidaskClub raised shares of Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, ValuEngine lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Enbridge Energy Management (EEQ) opened at 13.98 on Tuesday. The company’s market cap is $1.20 billion. The firm’s 50 day moving average is $14.98 and its 200 day moving average is $15.43. Enbridge Energy Management has a 52-week low of $13.42 and a 52-week high of $25.96.

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A number of hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its stake in Enbridge Energy Management by 2.0% during the second quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock worth $137,000 after buying an additional 171 shares during the period. M&T Bank Corp boosted its stake in Enbridge Energy Management by 1.9% during the second quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock worth $163,000 after buying an additional 201 shares during the period. Buckingham Asset Management LLC boosted its stake in Enbridge Energy Management by 1.9% during the second quarter. Buckingham Asset Management LLC now owns 10,621 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 203 shares during the period. Virginia Retirement Systems ET AL boosted its stake in Enbridge Energy Management by 1.9% during the second quarter. Virginia Retirement Systems ET AL now owns 12,659 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 241 shares during the period. Finally, RiverPoint Capital Management LLC boosted its stake in Enbridge Energy Management by 1.9% during the second quarter. RiverPoint Capital Management LLC now owns 17,289 shares of the oil and gas producer’s stock worth $266,000 after buying an additional 330 shares during the period. 75.03% of the stock is owned by institutional investors.

About Enbridge Energy Management

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