Commonwealth Equity Services LLC reduced its stake in Enbridge Energy Partners, L.P. (NYSE:EEP) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,170 shares of the pipeline company’s stock after selling 5,892 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Enbridge Energy Partners were worth $694,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of EEP. Icon Wealth Partners LLC acquired a new position in shares of Enbridge Energy Partners in the second quarter worth approximately $122,000. CIBC Asset Management Inc acquired a new position in Enbridge Energy Partners in the second quarter valued at approximately $130,000. Argent Trust Co acquired a new position in Enbridge Energy Partners in the second quarter valued at approximately $177,000. Wedbush Securities Inc. lifted its stake in Enbridge Energy Partners by 57.1% in the second quarter. Wedbush Securities Inc. now owns 18,099 shares of the pipeline company’s stock valued at $198,000 after buying an additional 6,579 shares during the period. Finally, Resources Investment Advisors Inc. lifted its stake in Enbridge Energy Partners by 32.8% in the second quarter. Resources Investment Advisors Inc. now owns 21,032 shares of the pipeline company’s stock valued at $230,000 after buying an additional 5,200 shares during the period. 45.13% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the company. ValuEngine raised Enbridge Energy Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 21st. Zacks Investment Research lowered Enbridge Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Morgan Stanley boosted their price target on Enbridge Energy Partners from $11.00 to $12.00 and gave the company a “sell” rating in a research note on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.50.
Shares of EEP opened at $10.92 on Thursday. Enbridge Energy Partners, L.P. has a 52-week low of $8.89 and a 52-week high of $15.56. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 13.65 and a beta of 1.29.
Enbridge Energy Partners (NYSE:EEP) last released its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The firm had revenue of $560.00 million during the quarter, compared to the consensus estimate of $568.11 million. Enbridge Energy Partners had a return on equity of 5.92% and a net margin of 9.39%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts predict that Enbridge Energy Partners, L.P. will post 0.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.40 annualized dividend and a dividend yield of 12.82%. Enbridge Energy Partners’s dividend payout ratio is 175.00%.
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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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