Enbridge Energy, L.P. (EEP) Shares Bought by Tiedemann Wealth Management LLC
Tiedemann Wealth Management LLC lifted its holdings in shares of Enbridge Energy, L.P. (NYSE:EEP) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 660,483 shares of the pipeline company’s stock after acquiring an additional 33,904 shares during the quarter. Enbridge Energy accounts for about 1.2% of Tiedemann Wealth Management LLC’s holdings, making the stock its 17th largest position. Tiedemann Wealth Management LLC owned about 0.20% of Enbridge Energy worth $10,027,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Alliancebernstein L.P. increased its position in Enbridge Energy by 40.5% in the first quarter. Alliancebernstein L.P. now owns 50,162 shares of the pipeline company’s stock worth $953,000 after buying an additional 14,462 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Enbridge Energy by 1.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 190,070 shares of the pipeline company’s stock worth $3,041,000 after buying an additional 3,050 shares during the last quarter. Harbour Capital Advisors LLC increased its position in Enbridge Energy by 1,500.0% in the second quarter. Harbour Capital Advisors LLC now owns 80,000 shares of the pipeline company’s stock worth $5,000,000 after buying an additional 75,000 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Enbridge Energy by 55.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 88,900 shares of the pipeline company’s stock worth $1,422,000 after buying an additional 31,800 shares during the last quarter. Finally, Barnett & Company Inc. increased its position in Enbridge Energy by 187.3% in the second quarter. Barnett & Company Inc. now owns 18,100 shares of the pipeline company’s stock worth $290,000 after buying an additional 11,800 shares during the last quarter. 44.97% of the stock is owned by institutional investors.
Shares of Enbridge Energy, L.P. (NYSE:EEP) opened at $12.91 on Wednesday. The stock has a market capitalization of $4,290.43, a price-to-earnings ratio of 19.32 and a beta of 1.21. Enbridge Energy, L.P. has a 52 week low of $12.25 and a 52 week high of $26.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.31 and a current ratio of 0.31.
Enbridge Energy (NYSE:EEP) last issued its quarterly earnings results on Wednesday, November 1st. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Enbridge Energy had a return on equity of 6.03% and a net margin of 8.47%. The firm had revenue of $616.40 million during the quarter, compared to analyst estimates of $637.68 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. equities analysts expect that Enbridge Energy, L.P. will post 0.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date was Monday, November 6th. Enbridge Energy’s dividend payout ratio (DPR) is presently 222.23%.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Enbridge Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Mizuho reiterated a “hold” rating and issued a $17.00 price target on shares of Enbridge Energy in a research report on Friday, October 20th. Barclays reduced their price target on Enbridge Energy from $21.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, November 20th. BidaskClub cut Enbridge Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $21.00 price target on shares of Enbridge Energy in a research report on Sunday, September 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.56.
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Enbridge Energy Company Profile
Enbridge Energy Partners, L.P is a geographically and operationally diversified organization that provides crude oil and liquid petroleum gathering and transportation and storage services. The Company operates through the Liquids business segment. Its Liquids segment includes the operations of its Lakehead, North Dakota and mid-continent systems.
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