Private Advisor Group LLC Raises Position in Enbridge Energy, L.P. (EEP)

Private Advisor Group LLC increased its position in shares of Enbridge Energy, L.P. (NYSE:EEP) by 143.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,116 shares of the pipeline company’s stock after purchasing an additional 38,968 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge Energy, L.P. were worth $1,053,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. raised its holdings in Enbridge Energy, L.P. by 2.4% during the second quarter. Oppenheimer & Co. Inc. now owns 12,253 shares of the pipeline company’s stock worth $196,000 after purchasing an additional 293 shares during the last quarter. Investment Centers of America Inc. raised its holdings in Enbridge Energy, L.P. by 2.0% during the first quarter. Investment Centers of America Inc. now owns 15,813 shares of the pipeline company’s stock worth $301,000 after purchasing an additional 316 shares during the last quarter. M&T Bank Corp raised its holdings in Enbridge Energy, L.P. by 0.3% during the first quarter. M&T Bank Corp now owns 167,024 shares of the pipeline company’s stock worth $3,174,000 after purchasing an additional 484 shares during the last quarter. Novare Capital Management LLC raised its holdings in Enbridge Energy, L.P. by 0.4% during the second quarter. Novare Capital Management LLC now owns 133,150 shares of the pipeline company’s stock worth $2,130,000 after purchasing an additional 500 shares during the last quarter. Finally, Hutner Capital Management Inc. raised its holdings in Enbridge Energy, L.P. by 0.7% during the first quarter. Hutner Capital Management Inc. now owns 82,740 shares of the pipeline company’s stock worth $1,572,000 after purchasing an additional 605 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Enbridge Energy, L.P. (NYSE EEP) opened at 15.21 on Monday. The firm’s market capitalization is $6.39 billion. Enbridge Energy, L.P. has a 1-year low of $13.87 and a 1-year high of $26.36. The company has a 50-day moving average price of $15.05 and a 200 day moving average price of $16.79.

Enbridge Energy, L.P. (NYSE:EEP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.03. The business had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. Enbridge Energy, L.P.’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. Equities analysts anticipate that Enbridge Energy, L.P. will post $0.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were issued a $0.35 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.20%. Enbridge Energy, L.P.’s payout ratio is currently -160.92%.

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Several equities analysts recently issued reports on the company. Zacks Investment Research cut Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. BidaskClub cut Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Morgan Stanley cut Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $19.00 in a report on Thursday, June 15th. Finally, Mizuho reaffirmed a “neutral” rating and set a $19.00 price objective (down from $22.00) on shares of Enbridge Energy, L.P. in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.80.

About Enbridge Energy, 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.

Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

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