Enbridge Energy Management LLC (EEQ) Reaches New 1-Year Low at $13.26

Enbridge Energy Management LLC (NYSE:EEQ) reached a new 52-week low on Monday . The company traded as low as $13.26 and last traded at $13.52, with a volume of 252100 shares trading hands. The stock had previously closed at $13.69.

A number of equities research analysts recently weighed in on EEQ shares. Zacks Investment Research raised Enbridge Energy Management from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, October 10th. ValuEngine cut Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub cut Enbridge Energy Management from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of Enbridge Energy Management in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company currently has a consensus rating of “Sell” and an average price target of $19.33.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP increased its holdings in Enbridge Energy Management by 8.6% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 9,991,806 shares of the oil and gas producer’s stock valued at $153,960,000 after purchasing an additional 791,260 shares in the last quarter. Maple Brown Abbott Ltd boosted its position in Enbridge Energy Management by 30.1% in the 3rd quarter. Maple Brown Abbott Ltd now owns 3,514,600 shares of the oil and gas producer’s stock valued at $54,336,000 after buying an additional 813,808 shares during the last quarter. Eagle Global Advisors LLC boosted its position in Enbridge Energy Management by 7.3% in the 2nd quarter. Eagle Global Advisors LLC now owns 3,098,871 shares of the oil and gas producer’s stock valued at $47,754,000 after buying an additional 210,126 shares during the last quarter. Macquarie Group Ltd. boosted its position in Enbridge Energy Management by 19.9% in the 3rd quarter. Macquarie Group Ltd. now owns 1,616,588 shares of the oil and gas producer’s stock valued at $24,992,000 after buying an additional 268,366 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Enbridge Energy Management by 40.4% in the 2nd quarter. Royal Bank of Canada now owns 1,169,569 shares of the oil and gas producer’s stock valued at $18,023,000 after buying an additional 336,347 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

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