GenTrust LLC Takes Position in Enbridge Energy, L.P. (EEP)

GenTrust LLC bought a new stake in Enbridge Energy, L.P. (NYSE:EEP) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 28,563 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Enbridge Energy, L.P. during the third quarter worth approximately $103,000. Brown Brothers Harriman & Co. purchased a new position in Enbridge Energy, L.P. during the third quarter worth approximately $127,000. NEXT Financial Group Inc raised its position in Enbridge Energy, L.P. by 201.8% in the third quarter. NEXT Financial Group Inc now owns 7,657 shares of the company’s stock worth $195,000 after buying an additional 5,120 shares during the period. Baker Boyer National Bank purchased a new position in Enbridge Energy, L.P. during the third quarter worth approximately $203,000. Finally, Wagner Bowman Management Corp purchased a new position in Enbridge Energy, L.P. during the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 55.05% of the company’s stock.

Institutional Ownership by Quarter for Enbridge Energy, L.P. (NYSE:EEP)

Shares of Enbridge Energy, L.P. (NYSE:EEP) traded up 0.22% on Monday, hitting $18.28. 1,975,081 shares of the company traded hands. Enbridge Energy, L.P. has a 1-year low of $14.51 and a 1-year high of $26.36. The stock’s market capitalization is $6.40 billion. The firm’s 50 day moving average price is $23.37 and its 200-day moving average price is $24.02.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th will be paid a $0.583 dividend. The ex-dividend date of this dividend is Friday, February 3rd. This represents a $2.33 dividend on an annualized basis and a yield of 12.76%. Enbridge Energy, L.P.’s dividend payout ratio (DPR) is currently -179.23%.

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EEP has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Enbridge Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 26th. National Bank Financial lowered shares of Enbridge Energy, L.P. from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 25th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $27.00 target price on shares of Enbridge Energy, L.P. in a research report on Tuesday, November 1st. RBC Capital Markets reiterated a “hold” rating and set a $24.00 target price on shares of Enbridge Energy, L.P. in a research report on Friday, January 6th. Finally, Mizuho lowered shares of Enbridge Energy, L.P. from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $22.00 in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.92.

Enbridge Energy, L.P. Company Profile

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. 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.

5 Day Chart for NYSE:EEP

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, L.P. (NYSE:EEP).

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