Enbridge Energy Partners LP (NYSE: EEP) issued its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02, StockRatingsNetwork reports. The company had revenue of $1.69 million for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share.
EEP has been the subject of a number of recent research reports. Analysts at UBS AG downgraded shares of Enbridge Energy Partners LP to a “neutral” rating in a research note to investors on Tuesday, April 16th. On a related note, analysts at Credit Suisse cut their price target on shares of Enbridge Energy Partners LP from $30.50 to $30.00 in a research note to investors on Monday, March 11th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Enbridge Energy Partners LP in a research note to investors on Thursday, February 28th. They now have a $29.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Enbridge Energy Partners LP presently has an average rating of “Hold” and an average target price of $32.75. Enbridge Energy Partners LP (NYSE: EEP) opened at 29.80 on Wednesday. Enbridge Energy Partners LP has a 1-year low of $26.88 and a 1-year high of $31.12. The stock’s 50-day moving average is currently $29.34. The company has a market cap of $9.036 billion and a price-to-earnings ratio of 23.52.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 15th. Investors of record on Wednesday, May 8th will be given a dividend of $0.54 per share. This represents a $2.17 dividend on an annualized basis and a yield of 7.30%.
Enbridge Energy Partners, L.P. (NYSE: EEP) 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.