Enbridge Energy Partners, L.P. (EEP) Coverage Initiated at Wolfe Research

Xavier Trudeau
Mai 19, 2017

Johnson Investment Counsel Inc. bought a new position in shares of Enbridge Energy Partners, L.P. during the third quarter worth about $380,000. Institutional investors own 71.79% of the company's stock. Nikko Asset Management Americas Inc. now owns 8,800 shares of the pipeline company's stock worth $387,000 after buying an additional 4,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Enbridge by 6.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 360,832 shares of the pipeline company's stock worth $15,831,000 after buying an additional 20,516 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Enbridge by 95.6% in the third quarter. Novare Capital Management LLC now owns 132,650 shares of the pipeline company's stock worth $2,520,000 after buying an additional 22,675 shares during the last quarter. The Energy Income Partners Llc holds 9.45M shares with $179.63 million value, up from 7.27M last quarter.

Based on the latest brokerage notes which have been released to investors, 3 brokers have issued a rating of "strong buy", 1 brokers "buy", 8 brokers "neutral", 1 brokers "sell" and 0 brokers "strong sell". Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Enbridge by 1.0% in the third quarter. Renaissance Technologies LLC now owns 1,275,569 shares of the pipeline company's stock valued at $53,712,000 after buying an additional 649,200 shares during the period.

Enbridge Inc (NYSE:ENB) traded down 0.90% on Tuesday, reaching $39.64. 2,276,182 shares of the company's stock were exchanged. The firm has a 50-day moving average price of $18.40 and a 200-day moving average price of $20.94. Enbridge Inc has a 52-week low of 38.58 and a 52-week high of 45.77. The company has a market cap of $36.49 billion, a price-to-earnings ratio of 27.30 and a beta of 0.62.

Enbridge (NYSE:ENB) last issued its earnings results on Friday, February 17th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.44 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.58 EPS. On average, equities analysts expect that Enbridge Inc will post $1.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 15th will be issued a $0.4435 dividend.

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. This represents a $1.77 annualized dividend and a yield of 4.28%. The ex-dividend date is Thursday, May 11th. Enbridge's dividend payout ratio is now 119.33%.

Energy Income Partners Llc is a Connecticut-based hedge fund with more than $4.12 billion AUM in October, 2014.

COPYRIGHT VIOLATION WARNING: "Toronto Dominion Bank Continues to Hold Stake in Enbridge Energy Partners, L.P. (EEP)" was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/05/16/enbridge-inc-enb-is-viking-fund-management-llcs-5th-largest-position-updated-updated-updated.html.

ENB has been the subject of a number of recent research reports. It worsened, as 35 investors sold Enbridge Energy Partners, L.P. shares while 74 reduced holdings.

03/23/2017 - Morgan Stanley began new coverage on Enbridge Energy, L.P. giving the company a "overweight" rating. They issued an "equal weight" rating and a $45.00 target price on the stock. As per Wednesday, September 7, the company rating was upgraded by Piper Jaffray. Credit Suisse maintained the stock with "Neutral" rating in Tuesday, May 3 report. RBC Capital Markets maintained the stock with "Outperform" rating in Tuesday, January 31 report. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock.

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