Shares of Enbridge Energy Management, L.L.C. (NYSE:EEQ) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.00.
Several equities analysts have weighed in on the company. Royal Bank of Canada restated a “hold” rating and set a $12.00 price target on shares of Enbridge Energy Management in a report on Wednesday, August 8th. ValuEngine upgraded Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research upgraded Enbridge Energy Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 22nd.
NYSE EEQ traded up $0.02 during trading on Wednesday, hitting $11.10. 321,820 shares of the stock traded hands, compared to its average volume of 651,747. Enbridge Energy Management has a 12-month low of $8.38 and a 12-month high of $16.23.
Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in shares of Enbridge Energy Management in the 1st quarter worth approximately $104,000. Virginia Retirement Systems ET AL purchased a new position in shares of Enbridge Energy Management in the 1st quarter worth approximately $205,000. Wells Fargo & Company MN boosted its holdings in shares of Enbridge Energy Management by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 22,492 shares of the oil and gas producer’s stock worth $301,000 after purchasing an additional 4,178 shares during the period. Franklin Square Holdings L.P. purchased a new position in shares of Enbridge Energy Management in the 2nd quarter worth approximately $339,000. Finally, Sei Investments Co. boosted its holdings in shares of Enbridge Energy Management by 13,648.0% in the 2nd quarter. Sei Investments Co. now owns 37,532 shares of the oil and gas producer’s stock worth $385,000 after purchasing an additional 37,259 shares during the period. Hedge funds and other institutional investors own 78.75% of the company’s stock.
About Enbridge Energy Management
Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.
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