Heronetta Management buys $5.6 Million stake in Enbridge Energy Partners L.P. (EEP)

Enbridge Energy Partners L.P. (EEP) : Heronetta Management scooped up 22,000 additional shares in Enbridge Energy Partners L.P. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 264,100 shares of Enbridge Energy Partners L.P. which is valued at $5.6 Million.Enbridge Energy Partners L.P. makes up approximately 3.40% of Heronetta Management’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management boosted its stake in EEP in the latest quarter, The investment management firm added 73,796 additional shares and now holds a total of 488,162 shares of Enbridge Energy Partners L.P. which is valued at $10.4 Million. Enbridge Energy Partners L.P. makes up approx 0.07% of Nuveen Asset Management’s portfolio. Blackrock Investment Management sold out all of its stake in EEP during the most recent quarter. The investment firm sold 400 shares of EEP which is valued $8,492.Stratos Wealth Partners Ltd. reduced its stake in EEP by selling 9,336 shares or 29.46% in the most recent quarter. The Hedge Fund company now holds 22,357 shares of EEP which is valued at $474,639. Enbridge Energy Partners L.P. makes up approx 0.04% of Stratos Wealth Partners Ltd.’s portfolio.Ray Gerald L Associates Ltd reduced its stake in EEP by selling 5,500 shares or 13.77% in the most recent quarter. The Hedge Fund company now holds 34,434 shares of EEP which is valued at $717,949. Enbridge Energy Partners L.P. makes up approx 0.12% of Ray Gerald L Associates Ltd’s portfolio.

Enbridge Energy Partners L.P. opened for trading at $21.84 and hit $22.27 on the upside on Wednesday, eventually ending the session at $21.88, with a gain of 0.92% or 0.2 points. The heightened volatility saw the trading volume jump to 9,95,878 shares. Company has a market cap of $9,412 M.

On the company’s financial health, Enbridge Energy Partners L.P. reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Feb 16, 2016. Analyst had a consensus of $0.21. The company had revenue of $1136.70 million for the quarter, compared to analysts expectations of $1405.81 million. The company’s revenue was down -45.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Enbridge Energy Partners L.P.. Enbridge Energy Partners L.P. was Initiated by Morgan Stanley to “Underweight” on Feb 25, 2016. Shares were Reiterated by Barclays on Feb 18, 2016 to “Equal Weight” and Lowered the Price Target to $ 21 from a previous price target of $25 .

Enbridge Energy Partners L.P. (the Partnership) 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’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 operates in two segments: Liquids and Natural Gas. The Liquids segment includes the operations of its Lakehead North Dakota and Mid-Continent crude oil systems. The natural gas business includes natural gas and NGL gathering and transportation pipeline systems natural gas processing and treating facilities and NGL fractionation facilities.

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