Enbridge Energy Partners, L.P. (NYSE:EEP) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 8,531,055 shares, an increase of 55.7% from the October 15th total of 5,477,815 shares. Based on an average trading volume of 1,854,237 shares, the short-interest ratio is currently 4.6 days. Approximately 4.0% of the company’s shares are short sold.
Shares of NYSE EEP opened at $10.77 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 12.66 and a beta of 1.27. Enbridge Energy Partners has a 1 year low of $8.89 and a 1 year high of $15.56.
Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The business had revenue of $560.00 million during the quarter, compared to the consensus estimate of $568.11 million. Enbridge Energy Partners had a net margin of 9.39% and a return on equity of 5.92%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. On average, sell-side analysts predict that Enbridge Energy Partners will post 0.74 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in EEP. Bank of Montreal Can bought a new stake in Enbridge Energy Partners in the second quarter worth about $13,160,000. Winslow Evans & Crocker Inc. lifted its stake in Enbridge Energy Partners by 42.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 28,726 shares of the pipeline company’s stock worth $316,000 after purchasing an additional 8,500 shares during the last quarter. Sippican Capital Advisors lifted its stake in Enbridge Energy Partners by 16.1% in the second quarter. Sippican Capital Advisors now owns 46,200 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 6,400 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Enbridge Energy Partners in the second quarter worth about $2,411,000. Finally, Whittier Trust Co. lifted its stake in Enbridge Energy Partners by 491.6% in the second quarter. Whittier Trust Co. now owns 14,198 shares of the pipeline company’s stock worth $524,000 after purchasing an additional 11,798 shares during the last quarter. 43.11% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on EEP. Morgan Stanley lifted their price target on Enbridge Energy Partners from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Friday, September 21st. Zacks Investment Research upgraded Enbridge Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Monday, October 8th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.50.
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Enbridge Energy Partners Company 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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