Enbridge Energy Management LLC (EEQ) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Enbridge Energy Management LLC (NYSE:EEQ) from a buy rating to a hold rating in a report issued on Wednesday, May 24th.

According to Zacks, “Enbridge Energy Management is a Delaware limited liability company. They manage and control the business and affairs of Enbridge Partners. They have no assets or operations other than those related to their interest in Enbridge Partners. “

Separately, Royal Bank of Canada reissued a hold rating and issued a $20.00 price objective on shares of Enbridge Energy Management in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $24.14.

Shares of Enbridge Energy Management (EEQ) traded up 1.62% on Wednesday, hitting $15.08. 546,586 shares of the stock traded hands. Enbridge Energy Management has a 52 week low of $14.74 and a 52 week high of $25.36. The firm’s market capitalization is $1.29 billion. The firm’s 50 day moving average is $16.74 and its 200 day moving average is $19.75.

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Several institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its position in Enbridge Energy Management by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 8,765 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 222 shares in the last quarter. Buckingham Asset Management LLC increased its position in Enbridge Energy Management by 2.6% in the first quarter. Buckingham Asset Management LLC now owns 10,418 shares of the oil and gas producer’s stock valued at $192,000 after buying an additional 264 shares during the period. Creative Planning increased its position in Enbridge Energy Management by 194.2% in the first quarter. Creative Planning now owns 11,031 shares of the oil and gas producer’s stock valued at $203,000 after buying an additional 7,282 shares during the period. Chicago Partners Investment Group LLC increased its position in Enbridge Energy Management by 2.6% in the first quarter. Chicago Partners Investment Group LLC now owns 11,213 shares of the oil and gas producer’s stock valued at $207,000 after buying an additional 284 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Enbridge Energy Management during the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.

About Enbridge Energy Management

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