Enbridge Energy Management, L.L.C. (NYSE:EEQ) Short Interest Update

Enbridge Energy Management, L.L.C. (NYSE:EEQ) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,605,182 shares, a drop of 36.5% from the November 15th total of 2,527,056 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,066,102 shares, the days-to-cover ratio is currently 1.5 days.

EEQ has been the topic of several analyst reports. Royal Bank of Canada restated a “hold” rating and set a $21.00 price target on shares of Enbridge Energy Management in a research report on Monday, October 30th. Zacks Investment Research lowered shares of Enbridge Energy Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Bank of America initiated coverage on shares of Enbridge Energy Management in a research report on Tuesday. They set an “underperform” rating and a $14.00 price target on the stock. ValuEngine lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley lowered shares of Enbridge Energy Management from an “equal” rating to a “weight” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus target price of $17.50.

Several large investors have recently bought and sold shares of EEQ. Cedar Wealth Management LLC purchased a new position in shares of Enbridge Energy Management in the third quarter worth about $104,000. Saratoga Research & Investment Management purchased a new position in Enbridge Energy Management during the third quarter worth about $104,000. Quantbot Technologies LP purchased a new position in Enbridge Energy Management during the second quarter worth about $113,000. Great West Life Assurance Co. Can raised its stake in Enbridge Energy Management by 2.0% during the second quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock worth $137,000 after purchasing an additional 171 shares during the period. Finally, M&T Bank Corp raised its stake in Enbridge Energy Management by 1.9% during the second quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock worth $163,000 after purchasing an additional 201 shares during the period. 74.57% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Energy Management (NYSE:EEQ) traded up $0.19 during trading hours on Thursday, hitting $14.18. 976,300 shares of the stock traded hands, compared to its average volume of 651,519. The stock has a market capitalization of $1,240.00, a P/E ratio of -202.57 and a beta of 1.19. Enbridge Energy Management has a 12-month low of $12.03 and a 12-month high of $26.53.

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