Simmons Upgrades Enbridge Energy Partners (EEP) to Overweight
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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."
Shares of Enbridge Energy Partners closed at $24.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Upgrades Anixter International (AXE) to Outperform
- Wedbush Raises price Target on NCR Corp. (NCR) Following 3Q; Reiterates Neutral
- Jefferies Cuts Price Target on Waters Corp. (WAT) Following Revenue Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!