Wall Street analysts expect Enbridge Energy Management, L.L.C. (NYSE:EEQ) to report earnings per share (EPS) of $0.15 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Enbridge Energy Management’s earnings, with estimates ranging from $0.14 to $0.16. Enbridge Energy Management posted earnings per share of ($0.02) in the same quarter last year, which would indicate a positive year over year growth rate of 850%. The company is scheduled to report its next earnings results on Thursday, September 20th.
On average, analysts expect that Enbridge Energy Management will report full-year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.74 to $0.77. For the next financial year, analysts forecast that the firm will report earnings of $0.87 per share, with EPS estimates ranging from $0.71 to $1.03. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Enbridge Energy Management.
Several equities research analysts have recently weighed in on EEQ shares. ValuEngine raised Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $12.00 price objective on shares of Enbridge Energy Management in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised Enbridge Energy Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 22nd. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.75.
Enbridge Energy Management stock traded up $0.85 during trading hours on Tuesday, reaching $11.65. 3,406,304 shares of the company were exchanged, compared to its average volume of 643,504. Enbridge Energy Management has a 12 month low of $8.38 and a 12 month high of $16.23.
Institutional investors and hedge funds have recently bought and sold shares of the company. EdgePoint Investment Group Inc. bought a new stake in shares of Enbridge Energy Management in the second quarter valued at approximately $12,236,000. Bank of Montreal Can acquired a new position in shares of Enbridge Energy Management in the second quarter valued at $1,641,000. HITE Hedge Asset Management LLC raised its stake in shares of Enbridge Energy Management by 225.2% in the second quarter. HITE Hedge Asset Management LLC now owns 1,113,771 shares of the oil and gas producer’s stock valued at $11,427,000 after purchasing an additional 771,239 shares in the last quarter. Bollard Group LLC raised its stake in shares of Enbridge Energy Management by 599.9% in the first quarter. Bollard Group LLC now owns 997,218 shares of the oil and gas producer’s stock valued at $9,115,000 after purchasing an additional 854,739 shares in the last quarter. Finally, Maple Brown Abbott Ltd raised its stake in shares of Enbridge Energy Management by 3.7% in the second quarter. Maple Brown Abbott Ltd now owns 4,831,203 shares of the oil and gas producer’s stock valued at $49,568,000 after purchasing an additional 172,558 shares in the last quarter. 76.24% of the stock is owned by institutional investors.
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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