Enbridge Energy Partners (NYSE:EEP) Given New $12.00 Price Target at Royal Bank of Canada

Enbridge Energy Partners (NYSE:EEP) had its price objective reduced by Royal Bank of Canada to $12.00 in a research report sent to investors on Monday, March 19th. They currently have a market perform rating on the pipeline company’s stock.

EEP has been the subject of several other research reports. Zacks Investment Research cut Enbridge Energy Partners from a hold rating to a sell rating in a report on Monday, March 12th. JPMorgan Chase reiterated a neutral rating and issued a $15.00 price objective (down from $16.00) on shares of Enbridge Energy Partners in a research note on Tuesday, March 13th. Bank of America started coverage on Enbridge Energy Partners in a research note on Tuesday, January 9th. They issued an underperform rating on the stock. Mizuho reiterated a hold rating and issued a $13.00 price objective on shares of Enbridge Energy Partners in a research note on Friday, March 16th. Finally, UBS restated a buy rating and set a $14.00 price target (down from $16.50) on shares of Enbridge Energy Partners in a research report on Friday, March 2nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Enbridge Energy Partners has a consensus rating of Hold and a consensus target price of $13.91.

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NYSE EEP traded down $0.05 on Monday, reaching $10.10. The stock had a trading volume of 1,587,452 shares, compared to its average volume of 1,961,250. Enbridge Energy Partners has a 1 year low of $9.05 and a 1 year high of $19.47. The company has a market capitalization of $3,281.50, a P/E ratio of 12.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.35 and a quick ratio of 0.35.

Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Enbridge Energy Partners had a return on equity of 5.68% and a net margin of 9.12%. The company had revenue of $610.00 million during the quarter. equities analysts anticipate that Enbridge Energy Partners will post 0.65 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Enbridge Energy Partners by 25.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,625 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 1,959 shares in the last quarter. Morse Asset Management Inc bought a new position in Enbridge Energy Partners during the 4th quarter worth about $138,000. Icon Wealth Partners LLC bought a new position in Enbridge Energy Partners during the 4th quarter worth about $139,000. Resources Investment Advisors Inc. increased its holdings in Enbridge Energy Partners by 1,201.9% during the 4th quarter. Resources Investment Advisors Inc. now owns 10,832 shares of the pipeline company’s stock worth $149,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Enbridge Energy Partners in the 4th quarter valued at about $151,000. Hedge funds and other institutional investors own 45.01% of the company’s stock.

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About Enbridge Energy Partners

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.

Analyst Recommendations for Enbridge Energy Partners (NYSE:EEP)

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