Stratos Wealth Partners LTD. reduced its stake in shares of Enbridge Energy, L.P. (NYSE:EEP) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 17,324 shares of the pipeline company’s stock after selling 1,277 shares during the period. Stratos Wealth Partners LTD.’s holdings in Enbridge Energy, L.P. were worth $277,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. US Bancorp DE increased 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 in the last quarter. ING Groep NV bought a new position in Enbridge Energy, L.P. during the first quarter valued at approximately $5,801,000. Virtu Financial LLC increased its position in Enbridge Energy, L.P. by 56.6% in the first quarter. Virtu Financial LLC now owns 38,913 shares of the pipeline company’s stock valued at $739,000 after buying an additional 14,062 shares in the last quarter. Whittier Trust Co. increased its position in Enbridge Energy, L.P. by 16.0% in the first quarter. Whittier Trust Co. now owns 10,140 shares of the pipeline company’s stock valued at $193,000 after buying an additional 1,400 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Enbridge Energy, L.P. by 10.8% in the first quarter. IFP Advisors Inc now owns 24,910 shares of the pipeline company’s stock valued at $473,000 after buying an additional 2,426 shares in the last quarter. Hedge funds and other institutional investors own 54.96% of the company’s stock.

Enbridge Energy, L.P. (NYSE:EEP) opened at 14.87 on Thursday. The company has a 50 day moving average of $15.84 and a 200 day moving average of $17.58. Enbridge Energy, L.P. has a 1-year low of $14.65 and a 1-year high of $26.37. The firm’s market capitalization is $5.26 billion.

Enbridge Energy, L.P. (NYSE:EEP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.03. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. The business had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. During the same period in the prior year, the firm posted $0.22 EPS. Enbridge Energy, L.P.’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Enbridge Energy, L.P. will post $0.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date is Thursday, August 3rd. Enbridge Energy, L.P.’s dividend payout ratio is presently -160.92%.

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Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Enbridge Energy, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Mizuho reiterated a “neutral” rating and issued a $19.00 price objective (down from $22.00) on shares of Enbridge Energy, L.P. in a report on Wednesday, May 17th. Wolfe Research assumed coverage on shares of Enbridge Energy, L.P. in a report on Friday, May 12th. They issued a “market perform” rating and a $19.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 price objective on shares of Enbridge Energy, L.P. in a report on Tuesday, June 6th. Finally, BidaskClub downgraded shares of Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Enbridge Energy, L.P. has an average rating of “Hold” and an average target price 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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