Tortoise Capital Advisors L.L.C. lowered its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,633,759 shares of the pipeline company’s stock after selling 1,476,530 shares during the period. Tortoise Capital Advisors L.L.C. owned approximately 1.03% of Enbridge Energy, L.P. worth $58,140,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions 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 approximately $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. Hedge funds and other institutional investors own 54.96% of the company’s stock.

Enbridge Energy, L.P. (EEP) opened at 15.15 on Monday. Enbridge Energy, L.P. has a 52-week low of $14.68 and a 52-week high of $26.36. The company’s 50-day moving average price is $15.91 and its 200 day moving average price is $17.91. The company’s market capitalization is $5.36 billion.

Enbridge Energy, L.P. (NYSE:EEP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a positive return on equity of 7.68% and a negative net margin of 4.34%. The company had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.82 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that Enbridge Energy, L.P. will post $0.80 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.40 annualized dividend and a yield of 9.24%. Enbridge Energy, L.P.’s payout ratio is currently -160.92%.

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Several equities analysts have recently commented on EEP shares. Zacks Investment Research lowered Enbridge Energy, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 25th. Wolfe Research started coverage on Enbridge Energy, L.P. in a research report on Friday, May 12th. They set a “market perform” rating and a $19.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price objective on shares of Enbridge Energy, L.P. in a research report on Tuesday, June 6th. Mizuho reiterated a “neutral” rating and set a $19.00 price objective (down from $22.00) on shares of Enbridge Energy, L.P. in a research report on Wednesday, May 17th. Finally, Morgan Stanley lowered Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $19.00 in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.45.

About Enbridge Energy, L.P.

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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Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

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