Equities research analysts expect Enbridge Energy Management LLC (NYSE:EEQ) to report earnings per share of $0.17 for the current quarter, Zacks reports. Zero analysts have made estimates for Enbridge Energy Management’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.13. Enbridge Energy Management posted earnings of ($0.02) per share during the same quarter last year, which indicates a positive year over year growth rate of 950%. The business is expected to report its next quarterly earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that Enbridge Energy Management will report full-year earnings of $0.70 per share for the current year, with EPS estimates ranging from $0.55 to $0.85. For the next financial year, analysts forecast that the firm will report earnings of $0.77 per share, with EPS estimates ranging from $0.57 to $0.97. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Enbridge Energy Management.
A number of equities analysts recently weighed in on EEQ shares. Zacks Investment Research lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Bank of America started coverage on shares of Enbridge Energy Management in a report on Tuesday, January 9th. They issued an “underperform” rating and a $14.00 price objective for the company. ValuEngine lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Morgan Stanley lowered shares of Enbridge Energy Management from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 11th. Finally, Ladenburg Thalmann lowered shares of Enbridge Energy Management from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Friday, March 16th. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has an average rating of “Sell” and an average price target of $16.60.
A number of large investors have recently bought and sold shares of EEQ. State Street Corp grew its position in Enbridge Energy Management by 13.7% in the 2nd quarter. State Street Corp now owns 130,454 shares of the oil and gas producer’s stock worth $2,010,000 after purchasing an additional 15,673 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Enbridge Energy Management by 11.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 65,747 shares of the oil and gas producer’s stock valued at $1,016,000 after buying an additional 6,568 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Enbridge Energy Management by 26.5% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,950,324 shares of the oil and gas producer’s stock valued at $30,152,000 after buying an additional 408,589 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of Enbridge Energy Management by 98.0% in the 3rd quarter. Susquehanna International Group LLP now owns 137,236 shares of the oil and gas producer’s stock valued at $2,122,000 after buying an additional 67,936 shares during the last quarter. Finally, Atlantic Trust Group LLC grew its position in shares of Enbridge Energy Management by 2.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 806,979 shares of the oil and gas producer’s stock valued at $12,476,000 after buying an additional 17,687 shares during the last quarter. 79.02% of the stock is owned by institutional investors and hedge funds.
NYSE EEQ traded up $0.03 during mid-day trading on Monday, reaching $9.21. The stock had a trading volume of 213,821 shares, compared to its average volume of 748,663. Enbridge Energy Management has a 1 year low of $8.51 and a 1 year high of $18.81. The firm has a market cap of $824.35, a P/E ratio of -6.52 and a beta of 1.33.
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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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