Enbridge Energy Partners (NYSE:EEP) released its quarterly earnings results on Thursday. The pipeline company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02, Briefing.com reports. The business had revenue of $560.00 million during the quarter, compared to analyst estimates of $568.11 million. Enbridge Energy Partners had a net margin of 9.25% and a return on equity of 7.59%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share.
Shares of EEP stock traded down $0.09 during mid-day trading on Friday, hitting $10.63. 2,414,625 shares of the stock traded hands, compared to its average volume of 2,676,698. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 13.29 and a beta of 1.27. Enbridge Energy Partners has a 52-week low of $8.89 and a 52-week high of $15.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.28 and a current ratio of 0.28.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 13.17%. The ex-dividend date is Tuesday, November 6th. Enbridge Energy Partners’s payout ratio is 175.00%.
EEP has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Enbridge Energy Partners from $11.00 to $12.00 and gave the company a “sell” rating in a research report on Friday, September 21st. Zacks Investment Research raised shares of Enbridge Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Monday, October 8th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Enbridge Energy Partners currently has an average rating of “Hold” and a consensus price target of $12.50.
Enbridge Energy Partners Company Profile
Enbridge Energy Partners, L.P. provides crude oil and liquid petroleum gathering, transportation, and storage services assets in the United States. The company's Lakehead system consists of approximately 4,212 miles of pipe and 74 pump stations located in the Great Lakes and Midwest regions of the United States.
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