Maple Brown Abbott Ltd lessened its holdings in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) by 14.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,650,312 shares of the pipeline company’s stock after selling 443,236 shares during the quarter. Enbridge Energy Partners accounts for about 2.3% of Maple Brown Abbott Ltd’s investment portfolio, making the stock its 16th largest holding. Maple Brown Abbott Ltd’s holdings in Enbridge Energy Partners were worth $29,127,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of EEP. Summit Securities Group LLC acquired a new stake in Enbridge Energy Partners during the 2nd quarter worth approximately $115,000. Icon Wealth Partners LLC acquired a new stake in Enbridge Energy Partners during the 2nd quarter worth approximately $122,000. CIBC Asset Management Inc acquired a new stake in Enbridge Energy Partners during the 2nd quarter worth approximately $130,000. Argent Trust Co acquired a new stake in Enbridge Energy Partners in the second quarter valued at approximately $177,000. Finally, Wedbush Securities Inc. grew its position in Enbridge Energy Partners by 57.1% in the second quarter. Wedbush Securities Inc. now owns 18,099 shares of the pipeline company’s stock valued at $198,000 after acquiring an additional 6,579 shares in the last quarter. 43.11% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:EEP opened at $10.76 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.27 and a quick ratio of 0.28. 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 market capitalization of $3.54 billion, a price-to-earnings ratio of 13.45 and a beta of 1.27.
Enbridge Energy Partners (NYSE:EEP) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $568.11 million. During the same quarter last year, the company earned $0.24 earnings per share. Enbridge Energy Partners’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts anticipate that Enbridge Energy Partners, L.P. will post 0.74 EPS for the current fiscal 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 annualized dividend and a yield of 13.01%. The ex-dividend date is Tuesday, November 6th. Enbridge Energy Partners’s dividend payout ratio (DPR) is 175.00%.
Several analysts have issued reports 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 price objective for the company in a research report on Monday, October 8th. Morgan Stanley increased their price objective on shares of Enbridge Energy Partners from $11.00 to $12.00 and gave the company a “sell” rating in a research report on Friday, September 21st. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock 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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