Resources Investment Advisors Inc. raised its holdings in Enbridge Energy Partners, L.P. (NYSE:EEP) by 32.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,032 shares of the pipeline company’s stock after acquiring an additional 5,200 shares during the period. Resources Investment Advisors Inc.’s holdings in Enbridge Energy Partners were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EEP. Wells Fargo & Company MN increased its position in Enbridge Energy Partners by 49.7% in the 1st quarter. Wells Fargo & Company MN now owns 284,141 shares of the pipeline company’s stock valued at $2,740,000 after acquiring an additional 94,345 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Enbridge Energy Partners in the 1st quarter valued at $819,000. PARK CIRCLE Co bought a new stake in shares of Enbridge Energy Partners in the 1st quarter valued at $770,000. JPMorgan Chase & Co. boosted its stake in shares of Enbridge Energy Partners by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,948,518 shares of the pipeline company’s stock valued at $38,063,000 after purchasing an additional 318,485 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Enbridge Energy Partners by 145.4% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 465,520 shares of the pipeline company’s stock valued at $4,488,000 after purchasing an additional 275,860 shares during the last quarter. Hedge funds and other institutional investors own 42.59% of the company’s stock.

EEP has been the topic of a number of analyst reports. UBS Group lowered shares of Enbridge Energy Partners from a “buy” rating to a “neutral” rating and upped their price objective for the company from $10.29 to $14.00 in a research note on Friday, May 18th. Zacks Investment Research raised shares of Enbridge Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Finally, Morgan Stanley reduced their price objective on shares of Enbridge Energy Partners from $11.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, June 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.80.

NYSE:EEP opened at $11.53 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.28 and a current ratio of 0.28. Enbridge Energy Partners, L.P. has a 52 week low of $8.89 and a 52 week high of $16.34. The firm has a market capitalization of $3.77 billion, a PE ratio of 14.41 and a beta of 1.35.

Enbridge Energy Partners (NYSE:EEP) last issued its earnings results on Thursday, August 2nd. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $563.60 million. Enbridge Energy Partners had a net margin of 9.25% and a return on equity of 7.59%. During the same period in the prior year, the firm earned $0.14 earnings per share. equities research analysts forecast that Enbridge Energy Partners, L.P. will post 0.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 12.14%. The ex-dividend date of this dividend was Monday, August 6th. Enbridge Energy Partners’s dividend payout ratio is presently 175.00%.

Enbridge Energy Partners Profile

Enbridge Energy Partners, L.P. provides crude oil and liquid petroleum gathering, transportation, and storage services assets in the United States. The company's Lakehead system consists of approximately 4,212 miles of pipe and 74 pump stations located in the Great Lakes and Midwest regions of the United States.

Read More: What are the Benefits of Index Funds?

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 Partners, L.P. (NYSE:EEP).

Institutional Ownership by Quarter for Enbridge Energy Partners (NYSE:EEP)

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