Enbridge Energy Management (EEQ) Downgraded by ValuEngine

ValuEngine cut shares of Enbridge Energy Management (NYSE:EEQ) from a hold rating to a sell rating in a report released on Monday morning.

EEQ has been the topic of several other research reports. Morgan Stanley cut Enbridge Energy Management from an equal weight rating to an underweight rating in a research report on Thursday, January 11th. Ladenburg Thalmann Financial Services cut Enbridge Energy Management from a buy rating to a neutral rating and set a $13.00 price objective on the stock. in a research report on Friday, March 16th. Zacks Investment Research cut Enbridge Energy Management from a hold rating to a strong sell rating in a research report on Monday, March 26th. Finally, Bank of America initiated coverage on Enbridge Energy Management in a report on Tuesday, January 9th. They set an underperform rating and a $14.00 target price on the stock. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Enbridge Energy Management presently has an average rating of Sell and a consensus target price of $16.60.

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EEQ stock traded down $0.19 during trading hours on Monday, hitting $9.18. 166,283 shares of the stock were exchanged, compared to its average volume of 748,889. The stock has a market capitalization of $815.37, a price-to-earnings ratio of -6.60 and a beta of 1.32. Enbridge Energy Management has a 12 month low of $8.51 and a 12 month high of $18.96.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EEQ. Center Coast Capital Advisors LP acquired a new stake in shares of Enbridge Energy Management during the 4th quarter worth $16,988,000. Brookfield Asset Management Inc. acquired a new stake in Enbridge Energy Management in the fourth quarter valued at about $16,988,000. Deutsche Bank AG boosted its stake in Enbridge Energy Management by 156.4% in the fourth quarter. Deutsche Bank AG now owns 1,012,804 shares of the oil and gas producer’s stock valued at $13,560,000 after buying an additional 617,738 shares in the last quarter. Maple Brown Abbott Ltd boosted its stake in Enbridge Energy Management by 16.5% in the fourth quarter. Maple Brown Abbott Ltd now owns 4,093,244 shares of the oil and gas producer’s stock valued at $54,809,000 after buying an additional 578,644 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Enbridge Energy Management by 31.2% in the fourth quarter. Macquarie Group Ltd. now owns 2,121,321 shares of the oil and gas producer’s stock valued at $28,528,000 after buying an additional 504,733 shares in the last quarter. 79.01% of the stock is currently owned by institutional investors.

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About Enbridge Energy Management

Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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