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Enbridge Energy Management LLC (NYSE:EEQ) Institutional Investor Sentiment Analysis
02 December 2017, 08:43 | Jodi Jackson
Everett Harris & Company Cut Enbridge Energy Management (EEQ) Position By $308760; Senomyx (SNMX)'s
Kayne Anderson Capital Advisors LP raised its position in shares of Enbridge Energy, L.P. (NYSE:EEP) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. Moreover, Prescott Group Capital Management L.L.C. has 0.05% invested in the company for 274,771 shares.
Enbridge, which earlier this year completed a merger with Spectra Energy, plans to speed up its debt reduction to help strengthen the balance sheet and increase its dividend by 10 percent.
Several other large investors also recently bought and sold shares of the stock. The number of shares now owned by investors are 45.97 mln. Brookfield Asset Management Inc. lifted its position in shares of Enbridge Energy by 11.5% during the second quarter. Furthermore, the company noted that it holds the option under existing joint funding agreements to acquire additional interests in those two systems as well as the Line 3 Replacement Program, with the potential to invest up to $1.6 billion if it exercises all its options.
While having a peek at profitability ratios Enbridge Energy Management Llc (NYSE:EEQ) has trailing twelve month gross margin at 0%, its trailing twelve month operating margin stands at 0% whereas its trailing twelve month net profit margin spots at 0%. Novare Capital Management LLC now owns 133,150 shares of the pipeline company's stock worth $2,130,000 after acquiring an additional 500 shares during the last quarter. Saratoga Research & Investment Management bought a new stake in Enbridge Energy Management during the third quarter worth approximately $104,000.
Several other brokerages have also recently issued reports on EEQ. Zacks Investment Research cut shares of Enbridge Energy from a "hold" rating to a "sell" rating in a report on Thursday, August 17th. Morgan Stanley downgraded Enbridge Energy Management, L.L.C. (NYSE:EEQ) on Thursday, June 15 to "Equal-Weight" rating. Finally, Mizuho reaffirmed a "hold" rating and issued a $17.00 price objective on shares of Enbridge Energy in a report on Friday, October 20th. Buckingham Asset Mngmt Ltd Co holds 0.04% of its portfolio in Enbridge Energy Management, L.L.C. (NYSE:EEQ) for 10,621 shares. Sell-side analyst recommendations point to a short term price target of $17.5 on the company shares. Whereas 2 of them predict the stock is a hold.
Currently, 33.96% of Enbridge Energy Partners, L.P. (NYSE:EEP) are owned by insiders with 44.95% six-month change in the insider ownership. (NYSE:EEP) traded up $0.11 on Friday, hitting $14.73. About 2.65M shares traded or 468.45% up from the average.
The good news is there's still room for Enbridge Energy Partners, L.P. (EEP) to grow. The third largest holder is Advisory Research Inc, which now holds $76.3 million worth of this stock and that ownership represents almost 6.47% of its market capitalization. The Earnings Yield for Enbridge Energy Management, L.L.C. (NYSE:EEQ) is 0.000000. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. The firm had revenue of $616.40 million during the quarter, compared to analysts' expectations of $637.68 million. Enbridge Energy had a net margin of 8.47% and a return on equity of 6.03%. The firm licenses its flavor ingredients to its collaborators on an exclusive or co-exclusive basis, as well as sells various flavor ingredients directly to flavor companies.
Enbridge (TSX:ENB) said it will pay out a quarterly dividend of 67.1 cents per common share, payable on March 1, 2018. The ex-dividend date of this dividend was Monday, November 6th. The first value is calculated by adding the dividend yield to the percentage of repurchased shares.
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Chief Executive Al Monaco said Enbridge would concentrate on its three "crown jewel" businesses: liquids pipelines and terminals, natural gas transmission and storage and natural gas utilities.
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