Zacks Investment Research downgraded shares of Enbridge Energy Partners (NYSE:EEP) from a hold rating to a sell rating in a report issued on Monday morning.

According to Zacks, “Enbridge Energy Partners units underperformed the broader industry in the last year. The partnership’s U.S. L3R Program in Wisconsin and the Canadian L3R Program cost has been  revised about 12% above the original estimate at the time the project was approved in 2014. This mainly reflects delays in the regulatory process, changes in scope and route alteration as well as other changes that resulted from the extensive consultation process. Any further delay in starting the project may increase costs, which is detrimental to the partnership’s growth. Additionally, the high capital expenditure required for the ambitious growth plans may reduce cash distribution growth. Moreover, the rise in debt burden and decline in cash balance reflect the weakness in the partnership’s balance sheet.”

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Other analysts have also recently issued reports about the company. UBS Group reiterated a buy rating and issued a $14.00 price target (down from $16.50) on shares of Enbridge Energy Partners in a research report on Friday, March 2nd. Barclays lowered their price target on Enbridge Energy Partners from $21.00 to $16.00 and set an equal weight rating on the stock in a research report on Monday, November 20th. Morgan Stanley decreased their target price on Enbridge Energy Partners from $18.00 to $17.00 and set an equal weight rating on the stock in a report on Friday, November 17th. Finally, Bank of America started coverage on Enbridge Energy Partners in a report on Tuesday, January 9th. They set an underperform rating on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Enbridge Energy Partners currently has an average rating of Hold and a consensus target price of $17.00.

Shares of Enbridge Energy Partners (NYSE EEP) opened at $13.10 on Monday. Enbridge Energy Partners has a 1 year low of $12.16 and a 1 year high of $19.64. The firm has a market capitalization of $5,380.00, a price-to-earnings ratio of 18.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.35 and a quick ratio of 0.35.

Enbridge Energy Partners (NYSE:EEP) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Enbridge Energy Partners had a return on equity of 5.47% and a net margin of 6.89%. The firm had revenue of $610.00 million for the quarter. equities research analysts anticipate that Enbridge Energy Partners will post 0.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 10.69%. The ex-dividend date was Tuesday, February 6th. Enbridge Energy Partners’s payout ratio is presently 194.44%.

Several hedge funds have recently made changes to their positions in the company. Green Square Capital LLC grew its holdings in shares of Enbridge Energy Partners by 7.1% during the fourth quarter. Green Square Capital LLC now owns 119,248 shares of the pipeline company’s stock worth $1,647,000 after purchasing an additional 7,940 shares during the last quarter. OTA Financial Group L.P. grew its holdings in shares of Enbridge Energy Partners by 145.8% during the fourth quarter. OTA Financial Group L.P. now owns 89,803 shares of the pipeline company’s stock worth $1,240,000 after purchasing an additional 53,267 shares during the last quarter. Yorkville Capital Management LLC bought a new stake in shares of Enbridge Energy Partners during the fourth quarter worth $280,000. Brookfield Asset Management Inc. grew its holdings in shares of Enbridge Energy Partners by 87.6% during the fourth quarter. Brookfield Asset Management Inc. now owns 3,855,987 shares of the pipeline company’s stock worth $53,251,000 after purchasing an additional 1,800,054 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of Enbridge Energy Partners by 20.9% during the fourth quarter. Glenmede Trust Co. NA now owns 115,920 shares of the pipeline company’s stock worth $1,600,000 after purchasing an additional 20,052 shares during the last quarter. Institutional investors own 45.04% of the company’s stock.

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About Enbridge Energy Partners

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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