Bank of America assumed coverage on shares of Enbridge Energy Management (NYSE:EEQ) in a report published on Tuesday, January 9th, The Fly reports. The brokerage issued an underperform rating and a $14.00 target price on the oil and gas producer’s stock.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Enbridge Energy Management from a hold rating to a buy rating and set a $18.00 price target for the company in a research report on Tuesday, October 10th. Royal Bank of Canada reaffirmed a hold rating and issued a $21.00 price target on shares of Enbridge Energy Management in a report on Wednesday, September 27th. Finally, ValuEngine cut Enbridge Energy Management from a hold rating to a sell rating in a report on Sunday, December 31st. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. Enbridge Energy Management currently has an average rating of Sell and an average target price of $17.50.
Enbridge Energy Management (NYSE EEQ) traded down $0.17 on Tuesday, hitting $13.76. The stock had a trading volume of 548,945 shares, compared to its average volume of 471,490. The company has a market cap of $1,250.14, a price-to-earnings ratio of -176.25 and a beta of 1.20. Enbridge Energy Management has a 52-week low of $12.03 and a 52-week high of $26.20.
Several institutional investors have recently made changes to their positions in the business. Cedar Wealth Management LLC purchased a new position in shares of Enbridge Energy Management during the third quarter worth $104,000. Saratoga Research & Investment Management acquired a new position in Enbridge Energy Management in the 3rd quarter valued at $104,000. Quantbot Technologies LP acquired a new position in Enbridge Energy Management in the 2nd quarter valued at $113,000. Great West Life Assurance Co. Can raised its holdings in Enbridge Energy Management by 2.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock valued at $137,000 after acquiring an additional 171 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock valued at $163,000 after acquiring an additional 201 shares during the last quarter. 74.57% of the stock is owned by institutional investors and hedge funds.
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Enbridge Energy Management Company Profile
Enbridge Energy Management, LLC is a limited partner of Enbridge Energy Partners, L.P. (the Partnership). The Company owns i-units, a special class of the Partnership’s limited partner interests. The Company manages the business of the Partnership. 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.
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