Alps Advisors Inc. increased its position in Enbridge Energy Partners, L.P. (NYSE:EEP) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,894,258 shares of the pipeline company’s stock after purchasing an additional 406,015 shares during the period. Enbridge Energy Partners accounts for about 1.7% of Alps Advisors Inc.’s holdings, making the stock its 13th biggest holding. Alps Advisors Inc. owned 5.48% of Enbridge Energy Partners worth $247,120,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of EEP. The Manufacturers Life Insurance Company grew its holdings in shares of Enbridge Energy Partners by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock worth $154,000 after acquiring an additional 1,959 shares during the period. Morse Asset Management Inc acquired a new stake in Enbridge Energy Partners during the 4th quarter valued at $138,000. Wedbush Securities Inc. acquired a new stake in Enbridge Energy Partners during the 3rd quarter valued at $167,000. Resources Investment Advisors Inc. grew its holdings in Enbridge Energy Partners by 1,201.9% during the 4th quarter. Resources Investment Advisors Inc. now owns 10,832 shares of the pipeline company’s stock valued at $149,000 after buying an additional 10,000 shares during the last quarter. Finally, Legacy Advisors LLC grew its holdings in Enbridge Energy Partners by 187.5% during the 4th quarter. Legacy Advisors LLC now owns 11,500 shares of the pipeline company’s stock valued at $158,000 after buying an additional 7,500 shares during the last quarter. 44.62% of the stock is owned by institutional investors and hedge funds.
EEP has been the topic of a number of analyst reports. Barclays lowered their target price on Enbridge Energy Partners from $21.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, November 20th. Morgan Stanley decreased their price objective on Enbridge Energy Partners from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Mizuho reaffirmed a “hold” rating and issued a $17.00 target price on shares of Enbridge Energy Partners in a research report on Friday, October 20th. Zacks Investment Research lowered Enbridge Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Bank of America began coverage on Enbridge Energy Partners in a research note on Tuesday, January 9th. They issued an “underperform” rating for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Enbridge Energy Partners has a consensus rating of “Hold” and a consensus price target of $18.13.
Shares of Enbridge Energy Partners, L.P. (EEP) opened at $13.45 on Tuesday. Enbridge Energy Partners, L.P. has a twelve month low of $12.25 and a twelve month high of $19.64. The company has a market capitalization of $4,400.00, a P/E ratio of 17.97 and a beta of 1.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.94.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, February 6th. This represents a $1.40 annualized dividend and a yield of 10.41%. Enbridge Energy Partners’s payout ratio is 186.67%.
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Enbridge Energy Partners Profile
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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