Upgrade Alert for Enbridge Energy Partners (EEP)
Enbridge Energy Partners (NYSE:EEP) was upgraded from Neutral to Outperform at Credit Suisse today. The stock closed yesterday at $27.74 on volume of 779,000 shares, below average daily volume of 858,000.
Enbridge Energy Partners share prices have moved between a 52-week high of $33.49 and a 52-week low of $26.30 and closed yesterday at 5% above that low price at $27.74 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.
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.
Enbridge Energy Partners has overhead space with shares priced $27.74, or 10.2% below the average consensus analyst price target of $30.89. The stock should run into initial resistance at its 50-day moving average (MA) of $27.75 and subsequent resistance at its 200-day MA of $29.52.
SmarTrend recommended that its subscribers protect gains by selling shares of Enbridge Energy Partners on November 11th, 2013 by issuing a Downtrend alert when the shares were trading at $29.11. Since that call, shares of Enbridge Energy Partners have fallen 4.7%. 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