Summit Securities Group LLC bought a new stake in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,500 shares of the pipeline company’s stock, valued at approximately $115,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Enbridge Energy Partners in the 4th quarter worth approximately $192,000. Suntrust Banks Inc. bought a new stake in Enbridge Energy Partners in the 1st quarter worth approximately $254,000. Mizuho Securities USA LLC bought a new stake in Enbridge Energy Partners in the 2nd quarter worth approximately $273,000. Winslow Evans & Crocker Inc. increased its stake in Enbridge Energy Partners by 42.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 28,726 shares of the pipeline company’s stock worth $316,000 after acquiring an additional 8,500 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Enbridge Energy Partners in the 4th quarter worth approximately $328,000. 38.77% of the stock is currently owned by institutional investors.
Shares of Enbridge Energy Partners stock opened at $10.88 on Monday. The company has a market capitalization of $3.55 billion, a PE ratio of 13.60 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.21 and a quick ratio of 0.21. Enbridge Energy Partners, L.P. has a one year low of $8.89 and a one year high of $16.34.
Enbridge Energy Partners (NYSE:EEP) last announced its earnings results on Wednesday, May 9th. The pipeline company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $592.00 million during the quarter, compared to analysts’ expectations of $584.93 million. Enbridge Energy Partners had a return on equity of 5.66% and a net margin of 8.43%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. research analysts forecast that Enbridge Energy Partners, L.P. will post 0.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date is Monday, August 6th. Enbridge Energy Partners’s payout ratio is currently 175.00%.
A number of analysts have issued reports on the company. Morgan Stanley reduced their price objective on Enbridge Energy Partners from $11.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, June 8th. UBS Group reiterated a “neutral” rating on shares of Enbridge Energy Partners in a report on Thursday, May 31st. Zacks Investment Research upgraded Enbridge Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. ValuEngine cut Enbridge Energy Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Barclays dropped their target price on Enbridge Energy Partners from $16.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.80.
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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