Enbridge Energy Management LLC (NYSE:EEQ) Short Interest Up 93.3% in September

Enbridge Energy Management LLC (NYSE:EEQ) was the recipient of a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 1,737,304 shares, an increase of 93.3% from the September 15th total of 898,670 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average trading volume of 259,486 shares, the days-to-cover ratio is currently 6.7 days.

Shares of Enbridge Energy Management (NYSE:EEQ) opened at 13.98 on Friday. The company’s market capitalization is $1.20 billion. Enbridge Energy Management has a 12-month low of $13.42 and a 12-month high of $25.96. The firm has a 50-day moving average price of $14.94 and a 200 day moving average price of $15.38.

A number of analysts recently weighed in on the company. ValuEngine downgraded Enbridge Energy Management from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, October 10th. BidaskClub cut Enbridge Energy Management from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $21.00 target price on shares of Enbridge Energy Management in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.25.

A number of institutional investors have recently modified their holdings of EEQ. Saratoga Research & Investment Management purchased a new position in Enbridge Energy Management in the third quarter valued at about $104,000. Cedar Wealth Management LLC purchased a new position in shares of Enbridge Energy Management during the 3rd quarter worth approximately $104,000. Quantbot Technologies LP purchased a new position in shares of Enbridge Energy Management during the 2nd quarter worth approximately $113,000. Great West Life Assurance Co. Can increased its stake in shares of Enbridge Energy Management by 2.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock worth $137,000 after purchasing an additional 171 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Enbridge Energy Management by 1.9% during the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock worth $163,000 after purchasing an additional 201 shares in the last quarter. 75.03% of the stock is owned by institutional investors.

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Enbridge Energy Management Company Profile

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