UPDATE: Global Hunter Securities Downgrades Enbridge Energy Partners to Neutral
Global Hunter Securities downgraded Enbridge Energy Partners (NYSE: EEP) from a Buy to a Neutral rating and lowered its price target from $34 to $29.
Global Hunter Securities noted, “We believe EEP will continue to encounter challenges as a result of its NGL exposure. EEP is growing more slowly than most of its liquids-focused MLP peers and will likely not cover its distribution for the forseeable future. We also believe equity may be needed prior to the end of 2012.”
Enbridge Energy Partners closed at $30.27 on Tuesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.