Royal Bank of Canada Reiterates Hold Rating for Enbridge Energy Partners, L.P. (EEP)

Enbridge Energy Partners, L.P. (NYSE:EEP)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Friday. They presently have a $20.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 10.86% from the company’s current price.

A number of other analysts have also recently weighed in on EEP. Mizuho cut Enbridge Energy Partners, L.P. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $22.00 in a research report on Monday, January 30th. BMO Capital Markets initiated coverage on Enbridge Energy Partners, L.P. in a research report on Monday, March 6th. They issued an “outperform” rating for the company. FBR & Co reduced their price target on Enbridge Energy Partners, L.P. from $29.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Morgan Stanley initiated coverage on Enbridge Energy Partners, L.P. in a research report on Thursday, March 23rd. They issued an “overweight” rating and a $22.00 price target for the company. Finally, National Bank Financial cut Enbridge Energy Partners, L.P. from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.91.

Analyst Recommendations for Enbridge Energy Partners, L.P. (NYSE:EEP)

Enbridge Energy Partners, L.P. (NYSE:EEP) opened at 18.04 on Friday. Enbridge Energy Partners, L.P. has a 12 month low of $16.86 and a 12 month high of $26.36. The stock has a 50 day moving average price of $17.95 and a 200 day moving average price of $22.70. The firm’s market cap is $6.35 billion.

Enbridge Energy Partners, L.P. (NYSE:EEP) last issued its earnings results on Thursday, February 16th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Enbridge Energy Partners, L.P. had a positive return on equity of 7.81% and a negative net margin of 5.40%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Enbridge Energy Partners, L.P. will post $0.36 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Enbridge Energy Partners, L.P. by 34.6% in the second quarter. Macquarie Group Ltd. now owns 201,800 shares of the company’s stock valued at $4,682,000 after buying an additional 51,903 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Enbridge Energy Partners, L.P. by 103.1% in the third quarter. BNP Paribas Arbitrage SA now owns 31,343 shares of the company’s stock valued at $797,000 after buying an additional 15,910 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Enbridge Energy Partners, L.P. during the third quarter valued at $217,000. Acadian Asset Management LLC acquired a new position in Enbridge Energy Partners, L.P. during the third quarter valued at $1,522,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Enbridge Energy Partners, L.P. during the third quarter valued at $2,640,000. 55.05% of the stock is owned by institutional investors and hedge funds.

About Enbridge Energy Partners, L.P.

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.

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