Enbridge Energy Management LLC (EEQ) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Enbridge Energy Management LLC (NYSE:EEQ) from a hold rating to a buy rating in a research report report published on Tuesday. The brokerage currently has $18.00 price objective on the oil and gas producer’s stock.

According to Zacks, “Enbridge Energy Management is a Delaware limited liability company. They manage and control the business and affairs of Enbridge Partners. They have no assets or operations other than those related to their interest in Enbridge Partners. “

A number of other brokerages have also recently commented on EEQ. Royal Bank Of Canada restated a hold rating and set a $21.00 target price on shares of Enbridge Energy Management in a report on Monday, August 21st. ValuEngine cut shares of Enbridge Energy Management from a hold rating to a sell rating in a report on Friday, September 1st. BidaskClub cut shares of Enbridge Energy Management from a sell rating to a strong sell rating in a report on Friday, July 28th. Finally, Morgan Stanley cut shares of Enbridge Energy Management from an overweight rating to an equal weight rating and dropped their target price for the company from $21.58 to $19.00 in a report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Enbridge Energy Management has a consensus rating of Hold and a consensus target price of $21.25.

Shares of Enbridge Energy Management (NYSE EEQ) traded down 0.45% on Tuesday, reaching $15.55. 46,404 shares of the company traded hands. The stock’s market capitalization is $1.33 billion. Enbridge Energy Management has a one year low of $13.42 and a one year high of $25.96. The stock’s 50 day moving average price is $14.87 and its 200-day moving average price is $15.66.

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Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Enbridge Energy Management in the 2nd quarter worth about $113,000. Great West Life Assurance Co. Can boosted its stake in Enbridge Energy Management by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,765 shares of the oil and gas producer’s stock worth $161,000 after purchasing an additional 222 shares in the last quarter. M&T Bank Corp boosted its stake in Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock worth $163,000 after purchasing an additional 201 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in Enbridge Energy Management by 1.9% in the 2nd quarter. Buckingham Asset Management LLC now owns 10,621 shares of the oil and gas producer’s stock worth $164,000 after purchasing an additional 203 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Enbridge Energy Management by 87.8% in the 2nd quarter. D.A. Davidson & CO. now owns 12,326 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 5,761 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

About Enbridge Energy Management

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