Global X Management Co. LLC increased its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) by 31.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,260,131 shares of the pipeline company’s stock after buying an additional 298,862 shares during the period. Global X Management Co. LLC owned 0.36% of Enbridge Energy, L.P. worth $20,162,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hutner Capital Management Inc. boosted its position in Enbridge Energy, L.P. by 0.7% in the first quarter. Hutner Capital Management Inc. now owns 82,740 shares of the pipeline company’s stock valued at $1,572,000 after buying an additional 605 shares during the last quarter. Bridges Investment Management Inc. boosted its position in Enbridge Energy, L.P. by 2.8% in the second quarter. Bridges Investment Management Inc. now owns 33,550 shares of the pipeline company’s stock valued at $537,000 after buying an additional 900 shares during the last quarter. US Bancorp DE boosted its position in Enbridge Energy, L.P. by 15.8% in the first quarter. US Bancorp DE now owns 37,648 shares of the pipeline company’s stock valued at $715,000 after buying an additional 5,141 shares during the last quarter. South Texas Money Management Ltd. bought a new position in Enbridge Energy, L.P. during the first quarter valued at $243,000. Finally, PNC Financial Services Group Inc. boosted its position in Enbridge Energy, L.P. by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 259,439 shares of the pipeline company’s stock valued at $4,930,000 after buying an additional 8,707 shares during the last quarter. 54.96% of the stock is owned by institutional investors.

Enbridge Energy, L.P. (NYSE EEP) opened at 14.84 on Wednesday. The company’s market cap is $5.25 billion. Enbridge Energy, L.P. has a 52-week low of $14.65 and a 52-week high of $26.37. The firm’s 50-day moving average is $15.87 and its 200 day moving average is $17.86.

Enbridge Energy, L.P. (NYSE:EEP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $601.82 million. During the same period in the previous year, the company earned $0.22 EPS. Enbridge Energy, L.P.’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts predict that Enbridge Energy, L.P. will post $0.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.43%. The ex-dividend date is Thursday, August 3rd. Enbridge Energy, L.P.’s payout ratio is -160.92%.

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Several equities analysts recently weighed in on EEP shares. Zacks Investment Research cut shares of Enbridge Energy, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. BidaskClub cut shares of Enbridge Energy, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Wolfe Research started coverage on shares of Enbridge Energy, L.P. in a research note on Friday, May 12th. They set a “market perform” rating and a $19.00 target price for the company. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $17.00 target price on shares of Enbridge Energy, L.P. in a research note on Friday, June 23rd. Finally, Mizuho reaffirmed a “neutral” rating and set a $19.00 target price (down from $22.00) on shares of Enbridge Energy, L.P. in a research note on Wednesday, May 17th. One research 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. The company currently has a consensus rating of “Hold” and an average 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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