Enbridge Energy Partners, L.P. (EEP) Receives $23.22 Consensus Price Target from Brokerages

Shares of Enbridge Energy Partners, L.P. (NYSE:EEP) have been given a consensus rating of “Hold” by the fifteen ratings firms that are currently covering the stock. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $22.50.

EEP has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $20.00 price target (down from $21.00) on shares of Enbridge Energy Partners, L.P. in a research report on Tuesday, February 21st. Mizuho cut Enbridge Energy Partners, L.P. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $22.00 in a research report on Monday, January 30th. Morgan Stanley assumed coverage on Enbridge Energy Partners, L.P. in a research report on Thursday, March 23rd. They set an “overweight” rating and a $22.00 price target for the company. National Bank Financial cut Enbridge Energy Partners, L.P. from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 25th. Finally, Zacks Investment Research cut Enbridge Energy Partners, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th.

Shares of Enbridge Energy Partners, L.P. (NYSE:EEP) traded up 2.11% during trading on Tuesday, reaching $17.41. 387,110 shares of the company traded hands. The company’s market capitalization is $6.16 billion. Enbridge Energy Partners, L.P. has a 52 week low of $16.76 and a 52 week high of $26.36. The company’s 50-day moving average price is $18.33 and its 200-day moving average price is $20.88.

Enbridge Energy Partners, L.P. (NYSE:EEP) last announced its earnings results on Wednesday, May 10th. The pipeline company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.04 billion. Enbridge Energy Partners, L.P. had a positive return on equity of 7.81% and a negative net margin of 5.40%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. Equities research analysts forecast that Enbridge Energy Partners, L.P. will post $0.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.21%. Enbridge Energy Partners, L.P.’s payout ratio is currently -179.23%.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in Enbridge Energy Partners, L.P. during the third quarter worth about $127,000. Whittier Trust Co. increased its position in Enbridge Energy Partners, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock worth $193,000 after buying an additional 1,400 shares in the last quarter. Lehman Financial Resources Inc. purchased a new position in Enbridge Energy Partners, L.P. during the third quarter worth about $216,000. Comerica Bank increased its position in Enbridge Energy Partners, L.P. by 8.6% in the fourth quarter. Comerica Bank now owns 9,480 shares of the pipeline company’s stock worth $243,000 after buying an additional 748 shares in the last quarter. Finally, South Texas Money Management Ltd. purchased a new position in Enbridge Energy Partners, L.P. during the first quarter worth about $243,000. Hedge funds and other institutional investors own 55.05% of the company’s stock.

About Enbridge Energy Partners, L.P.

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.

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