JPMorgan Chase & Co. Buys 649,352 Shares of Enbridge Energy Partners, L.P. (EEP)

JPMorgan Chase & Co. increased its stake in Enbridge Energy Partners, L.P. (NYSE:EEP) by 14.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,233,967 shares of the pipeline company’s stock after buying an additional 649,352 shares during the quarter. JPMorgan Chase & Co. owned about 1.60% of Enbridge Energy Partners worth $57,522,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of EEP. Tortoise Capital Advisors L.L.C. grew its stake in shares of Enbridge Energy Partners by 19,269,332.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 9,442,022 shares of the pipeline company’s stock valued at $103,201,000 after buying an additional 9,441,973 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Enbridge Energy Partners by 722.5% in the second quarter. Wells Fargo & Company MN now owns 2,337,034 shares of the pipeline company’s stock valued at $25,544,000 after buying an additional 2,052,893 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Enbridge Energy Partners in the second quarter valued at about $15,578,000. Bank of Montreal Can acquired a new stake in shares of Enbridge Energy Partners in the second quarter valued at about $13,160,000. Finally, Alps Advisors Inc. grew its stake in shares of Enbridge Energy Partners by 6.2% in the third quarter. Alps Advisors Inc. now owns 18,987,291 shares of the pipeline company’s stock valued at $208,670,000 after buying an additional 1,109,659 shares in the last quarter. Institutional investors and hedge funds own 43.91% of the company’s stock.

Shares of NYSE EEP opened at $10.69 on Friday. Enbridge Energy Partners, L.P. has a fifty-two week low of $8.89 and a fifty-two week high of $15.56. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.90. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 13.36 and a beta of 1.27.

Enbridge Energy Partners (NYSE:EEP) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Enbridge Energy Partners had a return on equity of 5.92% and a net margin of 9.39%. The firm had revenue of $560.00 million during the quarter, compared to analyst estimates of $568.11 million. During the same quarter last year, the firm earned $0.24 EPS. Enbridge Energy Partners’s quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts expect that Enbridge Energy Partners, L.P. will post 0.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 13.10%. Enbridge Energy Partners’s dividend payout ratio (DPR) is presently 175.00%.

EEP has been the subject of a number of recent research reports. Zacks Investment Research upgraded Enbridge Energy Partners from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, October 8th. Morgan Stanley raised their price objective on Enbridge Energy Partners from $11.00 to $12.00 and gave the company a “sell” rating in a research note on Friday, September 21st. Finally, ValuEngine upgraded Enbridge Energy Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Enbridge Energy Partners currently has a consensus rating of “Hold” and an average price target of $12.50.

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About Enbridge Energy Partners

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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Institutional Ownership by Quarter for Enbridge Energy Partners (NYSE:EEP)

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