Enbridge Energy Partners, L.P. (EEP) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Enbridge Energy Partners, L.P. (NYSE:EEP) by 14.8% during the second quarter, Holdings Channel reports. The fund owned 33,450 shares of the company’s stock after buying an additional 4,310 shares during the period. Bank of New York Mellon Corp’s holdings in Enbridge Energy Partners, L.P. were worth $776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Enbridge Energy Partners, L.P. during the second quarter worth $150,000. Barnett & Company Inc. purchased a new position in shares of Enbridge Energy Partners, L.P. during the first quarter worth $120,000. Cypress Asset Management Inc. TX purchased a new position in shares of Enbridge Energy Partners, L.P. during the second quarter worth $212,000. Rafferty Asset Management LLC purchased a new position in shares of Enbridge Energy Partners, L.P. during the first quarter worth $220,000. Finally, TIAA CREF Trust Co. FSB MO purchased a new position in shares of Enbridge Energy Partners, L.P. during the second quarter worth $319,000.

Institutional Ownership by Quarter for Enbridge Energy Partners, L.P. (NYSE:EEP)

Shares of Enbridge Energy Partners, L.P. (NYSE:EEP) traded up 0.70% during mid-day trading on Wednesday, hitting $26.01. The company’s stock had a trading volume of 189,645 shares. Enbridge Energy Partners, L.P. has a 12-month low of $14.27 and a 12-month high of $29.99. The company has a market cap of $9.05 billion, a PE ratio of 292.25 and a beta of 1.02. The stock has a 50-day moving average of $24.79 and a 200-day moving average of $22.91.

Enbridge Energy Partners, L.P. (NYSE:EEP) last released its earnings results on Thursday, July 28th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.13. The company earned $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. On average, equities research analysts forecast that Enbridge Energy Partners, L.P. will post $0.74 EPS for the current year.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Enbridge Energy Partners, L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. raised their price objective on Enbridge Energy Partners, L.P. from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Morgan Stanley set a $23.00 price objective on Enbridge Energy Partners, L.P. and gave the company a “sell” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. upgraded Enbridge Energy Partners, L.P. from a “neutral” rating to an “overweight” rating in a report on Wednesday, September 7th. Finally, Credit Suisse Group AG upgraded Enbridge Energy Partners, L.P. from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $25.00 to $27.00 in a report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.20.

Enbridge Energy Partners, L.P. Company Profile

Enbridge Energy Partners, L.P. is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. The Company’s activities include interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities, and supply, transportation and sales services, including purchasing and selling natural gas and NGLs.

5 Day Chart for NYSE:EEP

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