Simmons Upgrades Enbridge Energy Partners (EEP) to Overweight

September 7, 2016 6:47 AM EDT
Get Alerts EEP Hot Sheet
Price: $25.57 -0.2%

Rating Summary:
    10 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Simmons, a unit of Piper Jaffray, upgraded Enbridge Energy Partners (NYSE: EEP) from Neutral to Overweight with a price target of $28.00 (from $25.00).

Analyst Brian Gamble commented, "Upgrading EEP to OW as we believe EEP could be the biggest winner over the short term as a strengthened ENB parent provides much better cover for the MLP. If ENB decides to continue post-close with two MLP vehicles, EEP continues to hold growth potential. If ENB decides to roll the MLPs into one vehicle, EEP likely benefits from a yield spread true up with SEP (current EEP yield 9.7%, current SEP yield 6.0%). We are raising our PT to $28/u from $25/u."

For an analyst ratings summary and ratings history on Enbridge Energy Partners click here. For more ratings news on Enbridge Energy Partners click here.

Shares of Enbridge Energy Partners closed at $24.61 yesterday.

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