Brokerages predict that Enbridge Energy Management LLC (NYSE:EEQ) will report earnings per share of $0.16 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Enbridge Energy Management’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.13. Enbridge Energy Management reported earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year-over-year growth rate of 900%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 23rd.
According to Zacks, analysts expect that Enbridge Energy Management will report full-year earnings of $0.67 per share for the current financial year, with EPS estimates ranging from $0.53 to $0.80. For the next year, analysts forecast that the business will report earnings of $0.76 per share, with EPS estimates ranging from $0.55 to $0.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Enbridge Energy Management.
Get Enbridge Energy Management alerts:Several equities research analysts have recently issued reports on EEQ shares. ValuEngine lowered shares of Enbridge Energy Management from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of Enbridge Energy Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, Ladenburg Thalmann lowered shares of Enbridge Energy Management from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Friday, March 16th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and a consensus price target of $16.60.
A number of institutional investors and hedge funds have recently made changes to their positions in EEQ. Tortoise Capital Advisors L.L.C. lifted its holdings in Enbridge Energy Management by 396.4% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,928,428 shares of the oil and gas producer’s stock valued at $95,710,000 after buying an additional 7,928,454 shares in the last quarter. Zimmer Partners LP bought a new stake in Enbridge Energy Management during the 1st quarter valued at about $12,963,000. Center Coast Capital Advisors LP bought a new stake in Enbridge Energy Management during the 4th quarter valued at about $16,988,000. Brookfield Asset Management Inc. bought a new stake in Enbridge Energy Management during the 4th quarter valued at about $16,988,000. Finally, Bollard Group LLC lifted its holdings in Enbridge Energy Management by 599.9% during the 1st quarter. Bollard Group LLC now owns 997,218 shares of the oil and gas producer’s stock valued at $9,115,000 after buying an additional 854,739 shares in the last quarter. Institutional investors own 76.15% of the company’s stock.
Shares of Enbridge Energy Management traded down $0.27, hitting $9.50, during trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 1,842,461 shares, compared to its average volume of 833,057. Enbridge Energy Management has a 12 month low of $8.38 and a 12 month high of $17.37.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, May 7th. This represents a $1.40 dividend on an annualized basis and a yield of 14.74%.
About Enbridge Energy Management
Enbridge Energy Management, LLC, through its limited partner interests in Enbridge Energy Partners, L.P., owns and operates a portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the pipeline transporter of oil production from western Canada and the North Dakota Bakken formation.
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