Enbridge Energy Management, L.L.C. (NYSE:EEQ) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.00.
A number of analysts recently commented on EEQ shares. Royal Bank of Canada reiterated a “hold” rating and issued a $12.00 target price on shares of Enbridge Energy Management in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Enbridge Energy Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 22nd. Finally, ValuEngine upgraded shares of Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in shares of Enbridge Energy Management during the first quarter valued at approximately $104,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Enbridge Energy Management during the first quarter valued at approximately $205,000. Franklin Square Holdings L.P. acquired a new stake in shares of Enbridge Energy Management during the second quarter valued at approximately $339,000. Sei Investments Co. raised its holdings in shares of Enbridge Energy Management by 13,648.0% during the second quarter. Sei Investments Co. now owns 37,532 shares of the oil and gas producer’s stock valued at $385,000 after acquiring an additional 37,259 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Enbridge Energy Management by 13,838.6% during the second quarter. BNP Paribas Arbitrage SA now owns 51,991 shares of the oil and gas producer’s stock valued at $533,000 after acquiring an additional 51,618 shares during the period. Institutional investors and hedge funds own 78.75% of the company’s stock.
NYSE EEQ opened at $10.81 on Friday. Enbridge Energy Management has a 12 month low of $8.38 and a 12 month high of $16.23.
Enbridge Energy Management Company Profile
Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.
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