Ladenburg Thalmann lowered shares of Enbridge Energy Management (NYSE:EEQ) from a buy rating to a neutral rating in a report issued on Friday, March 16th, MarketBeat.com reports. Ladenburg Thalmann currently has $13.00 price target on the oil and gas producer’s stock.
Several other equities analysts have also weighed in on EEQ. Zacks Investment Research raised shares of Enbridge Energy Management from a strong sell rating to a hold rating in a report on Friday, December 1st. ValuEngine lowered shares of Enbridge Energy Management from a hold rating to a sell rating in a report on Sunday, December 31st. 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. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Enbridge Energy Management presently has a consensus rating of Sell and an average price target of $16.60.
EEQ traded down $0.19 during trading on Friday, reaching $9.18. 560,074 shares of the company’s stock were exchanged, compared to its average volume of 1,032,393. Enbridge Energy Management has a 1 year low of $8.51 and a 1 year high of $18.96. The firm has a market capitalization of $824.35, a PE ratio of -6.51 and a beta of 1.32.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new position in shares of Enbridge Energy Management during the 4th quarter worth $16,988,000. Macquarie Group Ltd. raised its holdings in Enbridge Energy Management by 31.2% in the 4th quarter. Macquarie Group Ltd. now owns 2,121,321 shares of the oil and gas producer’s stock valued at $28,528,000 after buying an additional 504,733 shares during the period. Two Sigma Investments LP raised its holdings in Enbridge Energy Management by 11.4% in the 4th quarter. Two Sigma Investments LP now owns 260,810 shares of the oil and gas producer’s stock valued at $3,492,000 after buying an additional 26,646 shares during the period. Deutsche Bank AG raised its holdings in Enbridge Energy Management by 156.4% in the 4th quarter. Deutsche Bank AG now owns 1,012,804 shares of the oil and gas producer’s stock valued at $13,560,000 after buying an additional 617,738 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Enbridge Energy Management by 0.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 9,898,612 shares of the oil and gas producer’s stock valued at $132,531,000 after buying an additional 40,389 shares during the period. Institutional investors and hedge funds own 79.01% of the company’s stock.
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Enbridge Energy Management Company Profile
Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.
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