Enbridge Energy Partners (NYSE:EEP) had its target price upped by stock analysts at Morgan Stanley from $11.00 to $12.00 in a research note issued on Friday, September 21st. The firm presently has a “sell” rating on the pipeline company’s stock. Morgan Stanley’s target price suggests a potential upside of 11.01% from the company’s previous close.
Several other analysts have also commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Enbridge Energy Partners in a research report on Thursday, May 31st. Zacks Investment Research raised shares of Enbridge Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Three equities 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 stock. Enbridge Energy Partners presently has a consensus rating of “Hold” and an average target price of $12.50.
EEP stock traded up $0.01 during mid-day trading on Friday, hitting $10.81. The company had a trading volume of 2,398,600 shares, compared to its average volume of 1,866,442. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 13.51 and a beta of 1.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.28 and a current ratio of 0.28. Enbridge Energy Partners has a 12 month low of $8.89 and a 12 month high of $15.92.
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, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $563.60 million. Enbridge Energy Partners had a net margin of 9.25% and a return on equity of 7.59%. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Analysts forecast that Enbridge Energy Partners will post 0.74 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Enbridge Energy Partners during the second quarter valued at approximately $115,000. Icon Wealth Partners LLC purchased a new position in Enbridge Energy Partners during the second quarter valued at approximately $122,000. CIBC Asset Management Inc purchased a new position in Enbridge Energy Partners during the second quarter valued at approximately $130,000. Whittier Trust Co. grew its stake in Enbridge Energy Partners by 491.6% during the second quarter. Whittier Trust Co. now owns 14,198 shares of the pipeline company’s stock valued at $524,000 after acquiring an additional 11,798 shares in the last quarter. Finally, Argent Trust Co purchased a new position in Enbridge Energy Partners during the second quarter valued at approximately $177,000. 42.56% of the stock is owned by institutional investors.
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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