Enbridge Energy L.P. (NYSE:EEP) has tumbled 2.7% during the past week and has dropped 0.18% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.53%. Enbridge Energy L.P. (NYSE:EEP) has underperformed the index by 1.09% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Enbridge Energy L.P. (NYSE:EEP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.22 and $21.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.99, notching a gain of 0.32% for the day. The total traded volume was 2,882,501 . The stock had closed at $21.92 on the previous day.
The company shares have dropped -38.23% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $37.09 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $21.74 and the 200 Day Moving Average price is recorded at $19.69.
On the companys insider trading activities, Neyland Stephen J, officer (Vice President – Finance) of Enbridge Energy Partners Lp had purchased 1,200 shares on December 17, 2015 in a transaction. The price per share was $19.98 and the total amount of the disclosed transaction was $23,976.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Credit Suisse maintains its outlook on Enbridge Energy L.P. (NYSE:EEP). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $23 per share to $5 per share. The rating by the firm was issued on May 3, 2016. Institutional Investors own 53.19% of Enbridge Energy L.P. shares.
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 Companys 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.