Moody National Bank Trust Division increased its holdings in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) by 82.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,615 shares of the pipeline company’s stock after purchasing an additional 16,115 shares during the period. Moody National Bank Trust Division’s holdings in Enbridge Energy Partners were worth $392,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EEP. Wells Fargo & Company MN increased its stake in Enbridge Energy Partners by 49.7% during the 1st quarter. Wells Fargo & Company MN now owns 284,141 shares of the pipeline company’s stock worth $2,740,000 after buying an additional 94,345 shares during the period. Suntrust Banks Inc. purchased a new stake in Enbridge Energy Partners during the 1st quarter worth approximately $254,000. Bank of Montreal Can purchased a new stake in Enbridge Energy Partners during the 2nd quarter worth approximately $13,160,000. Winslow Evans & Crocker Inc. increased its stake in Enbridge Energy Partners by 42.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 28,726 shares of the pipeline company’s stock worth $316,000 after buying an additional 8,500 shares during the period. Finally, Sippican Capital Advisors increased its stake in Enbridge Energy Partners by 16.1% during the 2nd quarter. Sippican Capital Advisors now owns 46,200 shares of the pipeline company’s stock worth $505,000 after buying an additional 6,400 shares during the period. 43.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:EEP opened at $10.97 on Tuesday. Enbridge Energy Partners, L.P. has a 52 week low of $8.89 and a 52 week high of $15.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 12.51 and a beta of 1.27.
Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. Enbridge Energy Partners had a net margin of 9.39% and a return on equity of 5.92%. The company had revenue of $560.00 million for the quarter, compared to the consensus estimate of $568.11 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, research analysts forecast that Enbridge Energy Partners, L.P. will post 0.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.76%. The ex-dividend date is Tuesday, November 6th. Enbridge Energy Partners’s dividend payout ratio is presently 175.00%.
Several equities research analysts recently weighed in on EEP shares. Zacks Investment Research raised shares of Enbridge Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, October 8th. Morgan Stanley upped their target price on shares of Enbridge Energy Partners from $11.00 to $12.00 and gave the stock a “sell” rating in a research note on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Enbridge Energy Partners currently has an average rating of “Hold” and an average target price of $12.50.
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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