Wells Fargo Downgrades Enbridge Energy Partners (EEP) to Market Perform; Cutting Estimates & Valuation on Disappointing Guidance

Wells Fargo downgraded Enbridge Energy Partners (NYSE: EEP) from Outperform to Market Perform, price target range lowered to $31-$33 from $33-35.

Wells analyst says, "While Enbridge is well positioned to benefit from favorable liquids fundamentals, in our view, distribution growth in the near term will likely be hampered by reduced volumes/activity tied to EEP’s dry gas systems, higher anticipated integrity expenditures, and the partnership’s financing requirements. Thus, we are also lowering our ratings for EEP and Enbridge Energy Management (NYSE: EEQ) to Market Perform."

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 $32.39 yesterday.

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