Enbridge Energy Management, L.L.C. (EEQ) Short Interest Down 41.9% in January

Enbridge Energy Management, L.L.C. (NYSE:EEQ) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,752,727 shares, a decrease of 41.9% from the January 12th total of 3,017,320 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 679,252 shares, the short-interest ratio is currently 2.6 days.

Shares of Enbridge Energy Management (NYSE EEQ) opened at $12.53 on Thursday. Enbridge Energy Management has a 1-year low of $11.98 and a 1-year high of $19.00. The company has a market cap of $1,166.62, a PE ratio of -164.54 and a beta of 1.16.

A number of analysts have recently weighed in on EEQ shares. ValuEngine lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “hold” rating and set a $21.00 target price on shares of Enbridge Energy Management in a report on Monday, October 30th. Bank of America started coverage on shares of Enbridge Energy Management in a report on Tuesday, January 9th. They set an “underperform” rating and a $14.00 target price for the company. Finally, Morgan Stanley lowered shares of Enbridge Energy Management from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Enbridge Energy Management has a consensus rating of “Sell” and a consensus target price of $17.50.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP lifted its holdings in Enbridge Energy Management by 11.4% in the fourth quarter. Two Sigma Investments LP now owns 260,810 shares of the oil and gas producer’s stock worth $3,492,000 after buying an additional 26,646 shares during the period. Deutsche Bank AG lifted its holdings in Enbridge Energy Management by 156.4% in the fourth quarter. Deutsche Bank AG now owns 1,012,804 shares of the oil and gas producer’s stock worth $13,560,000 after buying an additional 617,738 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in Enbridge Energy Management by 0.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 9,898,612 shares of the oil and gas producer’s stock worth $132,531,000 after buying an additional 40,389 shares during the period. Franklin Square Holdings L.P. lifted its holdings in Enbridge Energy Management by 44.1% in the fourth quarter. Franklin Square Holdings L.P. now owns 129,478 shares of the oil and gas producer’s stock worth $1,734,000 after buying an additional 39,631 shares during the period. Finally, AMP Capital Investors Ltd lifted its holdings in Enbridge Energy Management by 4.6% in the fourth quarter. AMP Capital Investors Ltd now owns 3,950,137 shares of the oil and gas producer’s stock worth $52,893,000 after buying an additional 174,117 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.

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About Enbridge Energy Management

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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