Enbridge Energy, L.P. (NYSE:EEP) Shares Sold by Pointe Capital Management LLC

Pointe Capital Management LLC lowered its position in Enbridge Energy, L.P. (NYSE:EEP) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 67,290 shares of the pipeline company’s stock after selling 2,056 shares during the period. Pointe Capital Management LLC’s holdings in Enbridge Energy, L.P. were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EEP. Investment Centers of America Inc. increased its stake in Enbridge Energy, L.P. by 2.0% in the first quarter. Investment Centers of America Inc. now owns 15,813 shares of the pipeline company’s stock worth $301,000 after buying an additional 316 shares in the last quarter. M&T Bank Corp increased its stake in Enbridge Energy, L.P. by 0.3% in the first quarter. M&T Bank Corp now owns 167,024 shares of the pipeline company’s stock worth $3,174,000 after buying an additional 484 shares in the last quarter. Segment Wealth Management LLC increased its stake in Enbridge Energy, L.P. by 1.6% in the first quarter. Segment Wealth Management LLC now owns 31,950 shares of the pipeline company’s stock worth $607,000 after buying an additional 500 shares in the last quarter. Novare Capital Management LLC increased its stake in Enbridge Energy, L.P. by 0.4% in the second quarter. Novare Capital Management LLC now owns 133,150 shares of the pipeline company’s stock worth $2,130,000 after buying an additional 500 shares in the last quarter. Finally, Hutner Capital Management Inc. increased its stake in Enbridge Energy, L.P. by 0.7% in the first quarter. Hutner Capital Management Inc. now owns 82,740 shares of the pipeline company’s stock worth $1,572,000 after buying an additional 605 shares in the last quarter. 54.96% of the stock is owned by institutional investors.

Enbridge Energy, L.P. (NYSE EEP) opened at 14.87 on Thursday. Enbridge Energy, L.P. has a 52-week low of $14.65 and a 52-week high of $26.37. The stock’s market cap is $5.26 billion. The firm has a 50 day moving average of $15.84 and a 200-day moving average of $17.58.

Enbridge Energy, L.P. (NYSE:EEP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The business had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.82 million. During the same quarter last year, the business earned $0.22 EPS. Enbridge Energy, L.P.’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Enbridge Energy, L.P. will post $0.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.40 annualized dividend and a yield of 9.41%. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is currently -160.92%.

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A number of brokerages recently commented on EEP. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy, L.P. in a research report on Tuesday, June 6th. Zacks Investment Research cut shares of Enbridge Energy, L.P. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Enbridge Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley cut shares of Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $19.00 in a research report on Thursday, June 15th. Finally, Mizuho reiterated a “neutral” rating and issued a $19.00 target price (down previously from $22.00) on shares of Enbridge Energy, L.P. in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.45.

Enbridge Energy, L.P. Company Profile

Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering; transportation and storage services, and natural gas gathering, treating, processing, marketing and transportation services in the Gulf Coast and mid-continent regions of the United States.

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

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