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Upgrade Alert for Enbridge Energy Partners (EEP)

By Nick Russo

Enbridge Energy Partners (NYSE:EEP) was upgraded from Neutral to Accumulate at Global Hunter today. The stock closed yesterday at $36.67 on volume of 18,000 shares, below average daily volume of 751,000.

In the past 52 weeks, Enbridge Energy Partners share prices have been bracketed by a low of $26.00 and a high of $41.68 and closed yesterday at $36.50, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.3%.

Enbridge Energy Partners, L.P. is a master limited partnership that transports and stores hydrocarbon energy. The Company transports crude oil and natural gas liquids to refineries in the midwestern United States and eastern Canada.

Potential upside of 10.6% exists for Enbridge Energy Partners, based on a current level of $36.50 and analysts' average consensus price target of $40.36. Enbridge Energy Partners shares should first meet resistance at the 200-day moving average (MA) of $36.76 and find additional resistance at the 50-day MA of $39.01.

SmarTrend recommended that its subscribers protect gains by selling shares of Enbridge Energy Partners on February 10th, 2015 by issuing a Downtrend alert when the shares were trading at $38.69. Since that call, shares of Enbridge Energy Partners have fallen 5.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades enbridge energy partners

Ticker(s): EEP