Analysts Expect Enbridge Energy Partners, L.P. (EEP) to Post $0.17 Earnings Per Share

Equities analysts expect that Enbridge Energy Partners, L.P. (NYSE:EEP) will post earnings of $0.17 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Enbridge Energy Partners’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.16. Enbridge Energy Partners reported earnings per share of $0.24 in the same quarter last year, which would suggest a negative year over year growth rate of 29.2%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Enbridge Energy Partners will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $0.77. For the next year, analysts anticipate that the company will report earnings of $0.84 per share, with EPS estimates ranging from $0.71 to $1.03. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Enbridge Energy Partners.

Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Enbridge Energy Partners had a net margin of 9.25% and a return on equity of 7.59%. The business had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $563.60 million. During the same period in the previous year, the business posted $0.14 EPS.

Several research firms recently issued reports on EEP. Morgan Stanley boosted their target price on shares of Enbridge Energy Partners from $11.00 to $12.00 and gave the company a “sell” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded shares of Enbridge Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, October 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.50.

Shares of EEP traded up $0.13 during trading hours on Friday, hitting $11.06. The stock had a trading volume of 959,700 shares, compared to its average volume of 1,867,708. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.28 and a quick ratio of 0.28. Enbridge Energy Partners has a fifty-two week low of $8.89 and a fifty-two week high of $15.56. The stock has a market cap of $3.60 billion, a P/E ratio of 13.83 and a beta of 1.35.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in Enbridge Energy Partners by 5.9% in the 2nd quarter. Alps Advisors Inc. now owns 17,894,258 shares of the pipeline company’s stock worth $247,120,000 after acquiring an additional 999,662 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Enbridge Energy Partners by 19,269,332.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 9,442,022 shares of the pipeline company’s stock worth $103,201,000 after acquiring an additional 9,441,973 shares in the last quarter. Global X Management Co LLC increased its holdings in Enbridge Energy Partners by 23.0% in the 2nd quarter. Global X Management Co LLC now owns 2,826,223 shares of the pipeline company’s stock worth $30,891,000 after acquiring an additional 529,169 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Enbridge Energy Partners by 722.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,337,034 shares of the pipeline company’s stock worth $25,544,000 after acquiring an additional 2,052,893 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Enbridge Energy Partners by 58.1% in the 3rd quarter. Bank of Montreal Can now owns 1,903,746 shares of the pipeline company’s stock worth $20,922,000 after acquiring an additional 699,705 shares in the last quarter. Hedge funds and other institutional investors own 42.56% of the company’s stock.

About Enbridge Energy Partners

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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