Icon Wealth Partners LLC purchased a new position in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,161 shares of the pipeline company’s stock, valued at approximately $122,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in Enbridge Energy Partners during the 2nd quarter valued at approximately $2,411,000. Alps Advisors Inc. raised its holdings in Enbridge Energy Partners by 5.8% in the 2nd quarter. Alps Advisors Inc. now owns 17,877,632 shares of the pipeline company’s stock valued at $195,403,000 after acquiring an additional 983,036 shares in the last quarter. Virtu Financial LLC acquired a new position in Enbridge Energy Partners in the 2nd quarter valued at approximately $552,000. Mizuho Securities USA LLC acquired a new position in Enbridge Energy Partners in the 2nd quarter valued at approximately $273,000. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in Enbridge Energy Partners by 19,269,332.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 9,442,022 shares of the pipeline company’s stock valued at $103,201,000 after acquiring an additional 9,441,973 shares in the last quarter. Institutional investors own 42.59% of the company’s stock.
Enbridge Energy Partners stock opened at $11.59 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 14.49 and a beta of 1.35. Enbridge Energy Partners, L.P. has a 12 month low of $8.89 and a 12 month high of $16.34.
Enbridge Energy Partners (NYSE:EEP) last posted its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Enbridge Energy Partners had a return on equity of 7.59% and a net margin of 9.25%. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $563.60 million. During the same quarter in the prior year, the firm posted $0.14 EPS. analysts expect that Enbridge Energy Partners, L.P. will post 0.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, August 7th were issued a $0.35 dividend. The ex-dividend date was Monday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.08%. Enbridge Energy Partners’s payout ratio is presently 175.00%.
EEP has been the subject of several recent research reports. UBS Group reaffirmed a “neutral” rating on shares of Enbridge Energy Partners in a report on Thursday, May 31st. Zacks Investment Research raised Enbridge Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. Finally, Morgan Stanley cut their price target on Enbridge Energy Partners from $11.00 to $10.00 and set a “sell” rating for the company in a report on Friday, June 8th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Enbridge Energy Partners currently has an average rating of “Hold” and an average price target of $12.80.
Enbridge Energy Partners Profile
Enbridge Energy Partners, L.P. provides crude oil and liquid petroleum gathering, transportation, and storage services assets in the United States. The company's Lakehead system consists of approximately 4,212 miles of pipe and 74 pump stations located in the Great Lakes and Midwest regions of the United States.
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