Kayne Anderson Capital Advisors LP lifted its position in Enbridge Energy, L.P. (NYSE:EEP) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,989,883 shares of the pipeline company’s stock after buying an additional 66,500 shares during the period. Kayne Anderson Capital Advisors LP owned about 0.92% of Enbridge Energy worth $47,776,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Enbridge Energy by 25.6% during the second quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock valued at $154,000 after buying an additional 1,959 shares during the last quarter. PARK CIRCLE Co purchased a new stake in shares of Enbridge Energy in the second quarter worth $160,000. Walter & Keenan Financial Consulting Co. MI ADV increased its stake in shares of Enbridge Energy by 297.0% in the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 40,100 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 30,000 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Enbridge Energy in the third quarter worth $167,000. Finally, Penserra Capital Management LLC increased its stake in shares of Enbridge Energy by 135.1% in the second quarter. Penserra Capital Management LLC now owns 11,557 shares of the pipeline company’s stock worth $184,000 after purchasing an additional 6,641 shares in the last quarter. 44.94% of the stock is owned by institutional investors and hedge funds.
Enbridge Energy, L.P. (EEP) traded up $0.26 during trading hours on Thursday, hitting $14.14. 1,073,903 shares of the stock were exchanged, compared to its average volume of 1,516,913. The company has a market cap of $4,597.36, a PE ratio of 20.71 and a beta of 1.20. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.94. Enbridge Energy, L.P. has a twelve month low of $12.25 and a twelve month high of $26.17.
Enbridge Energy (NYSE:EEP) last released its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Enbridge Energy had a net margin of 8.47% and a return on equity of 6.03%. The company had revenue of $616.40 million during the quarter, compared to analysts’ expectations of $637.68 million. During the same period last year, the business earned $0.09 EPS. Enbridge Energy’s revenue for the quarter was down 2.9% on a year-over-year basis. equities analysts expect that Enbridge Energy, L.P. will post 0.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.90%. The ex-dividend date of this dividend was Monday, November 6th. Enbridge Energy’s payout ratio is 222.23%.
A number of brokerages recently weighed in on EEP. Morgan Stanley dropped their target price on shares of Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Mizuho reiterated a “hold” rating and set a $17.00 price objective on shares of Enbridge Energy in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Enbridge Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy in a research report on Sunday, September 17th. Finally, Barclays lowered their target price on shares of Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.56.
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About Enbridge Energy
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.
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