Arbor Wealth Management LLC acquired a new position in Enbridge Energy, L.P. (NYSE:EEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,224 shares of the pipeline company’s stock, valued at approximately $917,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in Enbridge Energy by 25.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock valued at $154,000 after buying an additional 1,959 shares in the last quarter. PARK CIRCLE Co purchased a new position in Enbridge Energy during the 2nd quarter valued at about $160,000. Walter & Keenan Financial Consulting Co. MI ADV grew its holdings in Enbridge Energy by 297.0% during the 3rd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 40,100 shares of the pipeline company’s stock valued at $161,000 after buying an additional 30,000 shares in the last quarter. Wedbush Securities Inc. purchased a new position in Enbridge Energy during the 3rd quarter valued at about $167,000. Finally, Penserra Capital Management LLC grew its holdings in Enbridge Energy by 135.1% during the 2nd quarter. Penserra Capital Management LLC now owns 11,557 shares of the pipeline company’s stock valued at $184,000 after buying an additional 6,641 shares in the last quarter. 44.94% of the stock is owned by institutional investors.
Shares of Enbridge Energy, L.P. (NYSE:EEP) traded up $0.05 on Monday, hitting $14.19. The stock had a trading volume of 1,449,200 shares, compared to its average volume of 1,516,627. The company has a market cap of $4,633.28, a P/E ratio of 20.87 and a beta of 1.20. Enbridge Energy, L.P. has a 12-month low of $12.25 and a 12-month high of $26.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.94.
Enbridge Energy (NYSE:EEP) last released its earnings results on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.24. The company had revenue of $616.40 million during the quarter, compared to the consensus estimate of $637.68 million. Enbridge Energy had a return on equity of 6.03% and a net margin of 8.47%. Enbridge Energy’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. equities research analysts expect that Enbridge Energy, L.P. will post 0.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 9.87%. Enbridge Energy’s payout ratio is 222.23%.
A number of analysts have recently issued reports on EEP shares. Barclays dropped their price target on Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, November 20th. Zacks Investment Research upgraded Enbridge Energy from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Tuesday, October 10th. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price target on shares of Enbridge Energy in a research report on Sunday, September 17th. Mizuho reiterated a “hold” rating and set a $17.00 price target on shares of Enbridge Energy in a research report on Friday, October 20th. Finally, Morgan Stanley dropped their price target on Enbridge Energy from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Enbridge Energy has a consensus rating of “Hold” and a consensus price target of $18.56.
Enbridge Energy 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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