Enbridge Energy LP Gets a Hold Rating from RBC Capital

By Austin Angelo

RBC Capital analyst T J Schultz reiterated a Hold rating on Enbridge Energy LP (NYSE: EEP) yesterday and set a price target of $21. The company’s shares opened today at $16.75, close to its 52-week low of $16.35.

According to TipRanks.com, Schultz is a top 100 analyst with an average return of 16.8% and a 67.3% success rate. Schultz covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Energy Transfer Partners LP, and Sanchez Production Partners.

Enbridge Energy LP has an analyst consensus of Moderate Buy, with a price target consensus of $20.

Based on Enbridge Energy LP’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.18 billion and quarterly net profit of $77.8 million. In comparison, last year the company earned revenue of $1.06 billion and had a net profit of $47.7 million.

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Enbridge Energy Partners LP engages in the energy transportation, delivering crude oil, liquid petroleum and natural gas businesses. It operates through Liquids and Natural Gas segments. The Liquids segment involves in pipeline supplying crude oil and natural gas liquids from reserves. The Natural Gas segment includes natural gas, natural gas liquids gathering and transportation pipeline systems, natural gas processing, and treating facilities, and condensate stabilizers. The company was founded in 1991 and is headquartered in Houston, TX.