Enbridge Energy Partners (NYSE:EEP) had its price target dropped by research analysts at Barclays from $16.00 to $11.00 in a report released on Tuesday, Marketbeat.com reports. The firm currently has an “equal weight” rating on the pipeline company’s stock. Barclays’ target price suggests a potential upside of 3.00% from the company’s previous close.
A number of other equities analysts have also recently commented on the stock. Bank of America dropped their price target on shares of Enbridge Energy Partners from $14.00 to $13.00 and set an “underperform” rating for the company in a research note on Tuesday, February 20th. Zacks Investment Research cut shares of Enbridge Energy Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. UBS reiterated a “buy” rating and set a $14.00 price objective (down previously from $16.50) on shares of Enbridge Energy Partners in a report on Friday, March 2nd. Royal Bank of Canada decreased their price objective on shares of Enbridge Energy Partners to $12.00 and set a “market perform” rating for the company in a report on Monday, March 19th. Finally, JPMorgan Chase reiterated a “neutral” rating and set a $15.00 price objective (down previously from $16.00) on shares of Enbridge Energy Partners in a report on Tuesday, March 13th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.45.
EEP stock opened at $10.68 on Tuesday. Enbridge Energy Partners has a 12 month low of $9.05 and a 12 month high of $19.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $3,438.22, a P/E ratio of 13.16 and a beta of 1.32.
A number of institutional investors and hedge funds have recently made changes to their positions in EEP. Morse Asset Management Inc bought a new stake in Enbridge Energy Partners during the 4th quarter valued at about $138,000. Icon Wealth Partners LLC bought a new stake in Enbridge Energy Partners during the 4th quarter valued at about $139,000. Resources Investment Advisors Inc. lifted its holdings in Enbridge Energy Partners by 1,201.9% during the 4th quarter. Resources Investment Advisors Inc. now owns 10,832 shares of the pipeline company’s stock valued at $149,000 after buying an additional 10,000 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Enbridge Energy Partners in the 4th quarter valued at about $151,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Enbridge Energy Partners by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 1,959 shares in the last quarter. Institutional investors own 45.01% of the company’s stock.
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Enbridge Energy Partners Company Profile
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.
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