Enbridge Energy Management LLC (EEQ) : Traders are bullish on Enbridge Energy Management LLC (EEQ) as it has outperformed the S&P 500 by a wide margin of 5.19% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.61%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.58% in the last 1 week, and is up 5.6% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Enbridge Energy Management LLC is up 12.58% in the last 3-month period. Year-to-Date the stock performance stands at 12.53%. The stock has recorded a 20-day Moving Average of 4.12% and the 50-Day Moving Average is 5.94%.
Enbridge Energy Management LLC (NYSE:EEQ): The stock opened at $24.26 on Friday but the bulls could not build on the opening and the stock topped out at $24.31 for the day. The stock traded down to $24.05 during the day, due to lack of any buying support eventually closed down at $24.26 with a loss of -0.61% for the day. The stock had closed at $24.41 on the previous day. The total traded volume was 119,353 shares.
Also, Goldman Sachs downgrades its rating on Enbridge Energy Management LLC (NYSE:EEQ). Analysts at the Goldman Sachs have a current rating of Sell on the shares. The shares were previously rated Neutral. The rating by the firm was issued on July 20, 2016.
Enbridge Energy Management, L.L.C. (Enbridge Management), is a limited partner of Enbridge Energy Partners, L.P. (Partnership), through its ownership of i-units, a special class of the Partnerships limited partner interests. The Partnership 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 Enbridge Energy Company, Inc. (General Partner) owns all of its voting shares and is an indirect, wholly owned subsidiary of Enbridge Inc., which is an energy transportation and distribution company, located in Calgary, Alberta and Canada. The Company manages the business and affairs of the Partnership, subject to the General Partners right to approve specified actions.