Are Enbridge Energy (NYSE:EEP) Shares a ‘Buy’ Now? Credit Suisse Has Upgraded The Stock


Enbridge Energy (NYSE:EEP) Stock Upgrade

Stock analysts at the Credit Suisse division of equities hiked shares of Enbridge Energy (NYSE:EEP) from a Neutral to a Outperform on Monday morning.

From a total of 6 analysts covering Enbridge Energy Partners (NYSE:EEP) stock, 1 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 17% of the ratings are positive. The highest target price is $42 while the lowest target price is $29. The mean of all analyst targets is $34.57 with a 67.41% above today’s ($20.65) stock price. Enbridge Energy Partners was the topic of 9 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 3 with “Sector Perform” rating. Barclays Capital maintained EEP stock in a recent report from October 12 with “Equal-Weight” rating.

Approximately 335,452 shares of stock traded hands. Enbridge Energy Partners, L.P. (NYSE:EEP) has declined 45.67% since May 18, 2015 and is downtrending. It has underperformed by 39.87% the S&P500.

The overall sentiment of institutions has decreased to 0.61 in Q2 2015. Its down 0.29, from 0.9 in 2015Q2. The ratio dropped, as 55 institutions have sold all the shares of Enbridge Energy Partners, L.P. that they owned while 105 funds have taken shares off the table. 23 funds have purchased shares for the first time while 74 added to their positions. These institutions now hold 127.47 million shares or 4.46% less than the 133.43 million shares they owned in 2015Q2.

The Fund Travelers Companies Inc. currently is holding shares equating to 5.71% of its total portfolio in Enbridge Energy Partners, L.P. representing a total of 693,400 shares. Another fund,Alps Advisors Inc, is holding a total of 14.55 million shares equating to 3.79% of their holdings. Additionally, Heronetta Management L.P. has a 242,100 share stake in Enbridge Energy Partners, L.P. which represents 3.46% of their total portfolio. The Fund, Energy Income Partners Llc, based out of Connecticut, has also built up a stake in the stock, which represents a total of 3.26% of their total portfolio. Finally Tortoise Capital Advisors L.L.C., a fund which is based in the state of Kansas reported a total holdings of 15.97 million shares.

Enbridge Energy Partners, L.P. is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States of America. The company has a market cap of $7.11 billion. The Company’s activities include Interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities and supply, transportation and sales services, including purchasing and selling natural gas and NGLs. It has 50.73 P/E ratio. It operates in two divisions: Liquids and Natural Gas.

According to Zacks Investment Research, “Enbridge Energy Partners, L.P. owns the U.S. portion of the world’s longest liquid petroleum pipeline. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, holds an effective 14.5% interest in the Partnership. (Press Release)”