Accredited Investors Inc. held its position in Enbridge Energy, L.P. (NYSE:EEP) during the second quarter, Holdings Channel reports. The fund owned 20,000 shares of the pipeline company’s stock at the end of the second quarter. Accredited Investors Inc.’s holdings in Enbridge Energy, L.P. were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EEP. Center Coast Capital Advisors LP acquired a new position in shares of Enbridge Energy, L.P. during the first quarter valued at approximately $71,265,000. Bank of Montreal Can boosted 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 in the last quarter. UBS Group AG boosted 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 in the last quarter. Infrastructure Capital Advisors LLC boosted 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 in the last quarter. Finally, TPH Asset Management LLC boosted 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 in the last quarter. 54.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Enbridge Energy, L.P. (NYSE EEP) opened at 14.80 on Friday. The stock’s market capitalization is $6.22 billion. Enbridge Energy, L.P. has a 52-week low of $14.60 and a 52-week high of $26.37. The stock’s 50 day moving average is $15.82 and its 200 day moving average is $17.49.

Enbridge Energy, L.P. (NYSE:EEP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.03. The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.82 million. Enbridge Energy, L.P. had a negative net margin of 4.34% and a positive return on equity of 6.68%. Enbridge Energy, L.P.’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. Equities research analysts expect that Enbridge Energy, L.P. will post $0.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.40 annualized dividend and a dividend yield of 9.46%. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is presently -160.92%.

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