Bank of America Begins Coverage on Enbridge Energy Management (EEQ)

Bank of America initiated coverage on shares of Enbridge Energy Management (NYSE:EEQ) in a report released on Tuesday morning, The Fly reports. The brokerage issued an underperform rating and a $14.00 target price on the oil and gas producer’s stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Enbridge Energy Management from a buy rating to a hold rating in a research note on Monday, January 8th. ValuEngine lowered shares of Enbridge Energy Management from a hold rating to a sell rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada reiterated a hold rating and issued a $21.00 target price on shares of Enbridge Energy Management in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Enbridge Energy Management has a consensus rating of Sell and an average price target of $17.50.

Shares of Enbridge Energy Management (NYSE:EEQ) traded up $0.09 during mid-day trading on Tuesday, reaching $14.27. 613,329 shares of the company’s stock were exchanged, compared to its average volume of 500,548. Enbridge Energy Management has a 1 year low of $12.03 and a 1 year high of $26.44. The company has a market capitalization of $1,272.58, a PE ratio of -182.78 and a beta of 1.20.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC acquired a new stake in Enbridge Energy Management in the third quarter worth $104,000. Saratoga Research & Investment Management acquired a new stake in Enbridge Energy Management in the third quarter worth $104,000. Quantbot Technologies LP acquired a new stake in Enbridge Energy Management in the second quarter worth $113,000. Great West Life Assurance Co. Can raised its holdings in Enbridge Energy Management by 2.0% in the second quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock worth $137,000 after purchasing an additional 171 shares during the period. Finally, M&T Bank Corp raised its holdings in Enbridge Energy Management by 1.9% in the second 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 during the period. Institutional investors own 74.57% of the company’s stock.

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Enbridge Energy Management Company Profile

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