Zacks Investment Research upgraded shares of Enbridge Energy Management (NYSE:EEQ) from a strong sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Enbridge Energy Management is a Delaware limited liability company. They manage and control the business and affairs of Enbridge Partners. They have no assets or operations other than those related to their interest in Enbridge Partners. “
Other equities research analysts have also recently issued reports about the company. Bank of America initiated coverage on Enbridge Energy Management in a research note on Tuesday, January 9th. They issued an underperform rating and a $14.00 price target for the company. ValuEngine cut Enbridge Energy Management from a hold rating to a sell rating in a research note on Sunday, December 31st. Finally, Morgan Stanley cut Enbridge Energy Management from an equal weight rating to an underweight rating in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has an average rating of Sell and a consensus target price of $17.50.
A number of institutional investors have recently added to or reduced their stakes in EEQ. Stuart Chaussee & Associates Inc. purchased a new stake in Enbridge Energy Management in the fourth quarter valued at about $103,000. Fox Run Management L.L.C. purchased a new stake in Enbridge Energy Management in the fourth quarter valued at about $238,000. Landscape Capital Management L.L.C. raised its stake in Enbridge Energy Management by 33.3% in the fourth quarter. Landscape Capital Management L.L.C. now owns 20,471 shares of the oil and gas producer’s stock valued at $274,000 after buying an additional 5,116 shares during the last quarter. Wells Fargo & Company MN raised its stake in Enbridge Energy Management by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,492 shares of the oil and gas producer’s stock valued at $301,000 after buying an additional 4,178 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Enbridge Energy Management in the fourth quarter valued at about $308,000. Institutional investors own 79.11% of the company’s stock.
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About Enbridge Energy Management
Enbridge Energy Management, LLC is a limited partner of Enbridge Energy Partners, L.P. (the Partnership). The Company owns i-units, a special class of the Partnership’s limited partner interests. The Company manages the business of the Partnership. The Partnership 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.
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