First Capital Advisors Group LLC. continued to hold its stake in Enbridge Energy, L.P. (NYSE:EEP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,973 shares of the pipeline company’s stock at the end of the second quarter. First Capital Advisors Group LLC.’s holdings in Enbridge Energy, L.P. were worth $400,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC bought a new stake in Enbridge Energy, L.P. during the second quarter valued at about $234,000. TradeLink Capital LLC bought a new stake in Enbridge Energy, L.P. during the second quarter valued at about $254,000. Maple Brown Abbott Ltd increased its stake in Enbridge Energy, L.P. by 25.7% in the second quarter. Maple Brown Abbott Ltd now owns 1,437,731 shares of the pipeline company’s stock valued at $23,004,000 after buying an additional 293,700 shares during the period. Global X Management Co. LLC increased its stake in Enbridge Energy, L.P. by 31.1% in the second quarter. Global X Management Co. LLC now owns 1,260,131 shares of the pipeline company’s stock valued at $20,162,000 after buying an additional 298,862 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Enbridge Energy, L.P. by 7.5% in the second quarter. Cullen Frost Bankers Inc. now owns 18,530 shares of the pipeline company’s stock valued at $296,000 after buying an additional 1,300 shares during the period. Institutional investors own 54.96% of the company’s stock.

Enbridge Energy, L.P. (NYSE:EEP) opened at 14.85 on Friday. The company’s 50 day moving average price is $15.84 and its 200 day moving average price is $17.56. The firm’s market cap is $6.24 billion. Enbridge Energy, L.P. has a 52-week low of $14.60 and a 52-week high of $26.37.

Enbridge Energy, L.P. (NYSE:EEP) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $601.82 million. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts predict that Enbridge Energy, L.P. will post $0.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors 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 yield of 9.43%. The ex-dividend date is Thursday, August 3rd. Enbridge Energy, L.P.’s payout ratio is currently -160.92%.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.dailypolitical.com/2017/08/11/enbridge-energy-l-p-nyseeep-position-maintained-by-first-capital-advisors-group-llc.html.

Several analysts have recently issued reports on the company. BidaskClub downgraded Enbridge Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Enbridge Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co reiterated a “neutral” rating and set a $17.00 price target on shares of Enbridge Energy, L.P. in a research note on Friday, June 23rd. Morgan Stanley downgraded Enbridge Energy, L.P. from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $20.00 to $19.00 in a research note on Thursday, June 15th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $21.00 price target on shares of Enbridge Energy, L.P. in a research note on Tuesday, June 6th. One equities 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. Enbridge Energy, L.P. presently has a consensus 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.

Want to see what other hedge funds are holding EEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Energy, L.P. (NYSE:EEP).

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

Receive News & Ratings for Enbridge Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Energy L.P. and related companies with MarketBeat.com's FREE daily email newsletter.