Credit Suisse issued a target price of 5 on Enbridge Energy Partners’s stock.
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Out of 6 analysts covering Midcoast Energy Partners (NYSE:MEP), 0 rate it a “Buy”, 4 “Sell”, while 4 “Hold”.
Prices, inclusive of cash settlements from matured derivatives and of net premiums, averaged $46.74/Boe, a decrease of 7.0% sequentially and a decrease of 12.7% year-over-year. Enbridge Energy Partners has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc.
In a research report issued to clients and investors on today, Credit Suisse maintained their “Neutral” rating on Enbridge Energy (NYSE:EEP)’s stock.
About 363,037 shares traded hands.
Breitburn Energy Partners LP (BBEP) failed to extend gains with the stock declining -9.54% or $-0.03 to close the day at $0.33 on light trading volume of 3.71M shares, compared to its three month average trading volume of 2.91M. It has underperformed by 21.05% the S&P500.
Holly Energy Partners, L.P. was downgraded to “underperform” by analysts at Raymond James. They expect $-0.17 earnings per share, down 183.33% or $0.11 from last year’s $-0.06 per share. Previously Enbridge Energy Partners, L.P. (NYSE:EEP) reported $0.11 earnings per share (EPS) for the quarter on 2/16/2016 Before Market Open, missing the Zacks’ consensus estimate of $0.22 by $-0.11 with surprise factor of -50.00%. However a year ago for the same quarter the company has reported $0.26 EPS. The ratio improved, as 41 funds sold all Enbridge Energy Partners, L.P. shares owned while 97 reduced positions. If the outstanding common shares are half a million, and they are priced at $18 for each share, the payout comes to be 500,000 by $5=$2.5 million.
Sfe Investment Counsel holds 0.86% of its portfolio in Midcoast Energy Partners LP for 186,760 shares. Energy Income Partners Llc owns 6.30 million shares or 3.73% of their USA portfolio. The institutional investor owned 4,493,161 shares of the company’s stock after buying an additional 21,680 shares during the period. The Kansas-based Tortoise Capital Advisors L.L.C. has invested 0.45% in the stock. Company has a market cap of $2,021 M. It operates through two segments, Gathering, Processing and Transportation; and Logistics and Marketing. It now has negative earnings. The Company’s gathering, processing and transportation business includes natural gas and NGL gathering and transportation pipeline systems, natural gas processing and treating facilities, condensate stabilizers and an NGL fractionation facility.
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Maki went on to say that “strategically, the Partnership has initiated a process to evaluate a range of alternatives for our natural gas business unit and we will update investors on this process when we have concluded the evaluation”.
