American National Registered Investment Advisor Inc. maintained its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,525 shares of the pipeline company’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in Enbridge Energy, L.P. were worth $248,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Center Coast Capital Advisors LP purchased a new position in shares of Enbridge Energy, L.P. during the first quarter valued at $71,265,000. Bank of Montreal Can raised its position in shares of Enbridge Energy, L.P. by 81.0% in the second quarter. Bank of Montreal Can now owns 3,267,641 shares of the pipeline company’s stock valued at $52,282,000 after buying an additional 1,462,736 shares during the period. UBS Group AG raised its position in shares of Enbridge Energy, L.P. by 63.9% in the first quarter. UBS Group AG now owns 3,675,289 shares of the pipeline company’s stock valued at $69,831,000 after buying an additional 1,433,022 shares during the period. Infrastructure Capital Advisors LLC raised its position in shares of Enbridge Energy, L.P. by 100.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 1,178,145 shares of the pipeline company’s stock valued at $22,385,000 after buying an additional 590,148 shares during the period. Finally, TPH Asset Management LLC raised its position in shares of Enbridge Energy, L.P. by 1,551.4% in the first quarter. TPH Asset Management LLC now owns 536,784 shares of the pipeline company’s stock valued at $10,200,000 after buying an additional 504,279 shares during the period. 55.22% of the stock is owned by institutional investors.
Enbridge Energy, L.P. (NYSE:EEP) traded up 0.21% during midday trading on Wednesday, reaching $14.47. 747,437 shares of the company’s stock were exchanged. The stock’s market capitalization is $6.08 billion. The stock’s 50-day moving average is $15.70 and its 200-day moving average is $17.23. Enbridge Energy, L.P. has a 12-month low of $14.33 and a 12-month high of $26.36.
Enbridge Energy, L.P. (NYSE:EEP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a positive return on equity of 6.68% and a negative net margin of 4.34%. The business had revenue of $596.50 million during the quarter, compared to the consensus estimate of $601.82 million. During the same quarter last year, the firm posted $0.22 earnings per share. Enbridge Energy, L.P.’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Enbridge Energy, L.P. will post $0.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 9.68%. Enbridge Energy, L.P.’s dividend payout ratio is currently -160.92%.
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A number of research firms have weighed in on EEP. Zacks Investment Research upgraded Enbridge Energy, L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Mizuho reaffirmed a “neutral” rating and set a $19.00 price objective (down from $22.00) on shares of Enbridge Energy, L.P. in a research note on Wednesday, May 17th. Wolfe Research assumed coverage on Enbridge Energy, L.P. in a research note on Friday, May 12th. They set a “market perform” rating and a $19.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy, L.P. in a research note on Tuesday, June 6th. Finally, BidaskClub cut Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. One investment 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. Enbridge Energy, L.P. presently has a consensus rating of “Hold” and an average 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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