Trust Asset Management Lowers stake in Enbridge Energy Partners L.P. (EEP)

Enbridge Energy Partners L.P. (EEP) : Trust Asset Management reduced its stake in Enbridge Energy Partners L.P. by 2.4% during the most recent quarter end. The investment management company now holds a total of 87,657 shares of Enbridge Energy Partners L.P. which is valued at $2,195,808 after selling 2,160 shares in Enbridge Energy Partners L.P. , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Enbridge Energy Partners L.P. makes up approximately 0.89% of Trust Asset Management’s portfolio.

Other Hedge Funds, Including , Telemus Capital reduced its stake in EEP by selling 357 shares or 1.75% in the most recent quarter. The Hedge Fund company now holds 20,000 shares of EEP which is valued at $501,000. Enbridge Energy Partners L.P. makes up approx 0.06% of Telemus Capital’s portfolio.

Enbridge Energy Partners L.P. closed down -0.3 points or -1.19% at $24.88 with 3,58,601 shares getting traded on Tuesday. Post opening the session at $25.14, the shares hit an intraday low of $24.77 and an intraday high of $25.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Enbridge Energy Partners L.P. reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.12. The company had revenue of $1048.90 million for the quarter, compared to analysts expectations of $1067.17 million. The company’s revenue was down -20.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Enbridge Energy Partners L.P.. Mizuho Initiated Enbridge Energy Partners L.P. on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $29.Enbridge Energy Partners L.P. was Upgraded by Goldman to ” Neutral” on Sep 19, 2016. FBR Capital Initiated Enbridge Energy Partners L.P. on Sep 9, 2016 to “Outperform”, Price Target of the shares are set at $31.

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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