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Credit Suisse Reiterates On Enbridge Energy Partners, L.P. Following Alberta Dropdown

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In a report published Thursday, Credit Suisse analyst John Edwards reiterated an Outperform rating on Enbridge Energy Partners, L.P. (NYSE: EEP), and raised the price target from $39.00 to $42.00.

In the report, Credit Suisse noted, “We are positive on the drop down of Alberta Clipper to EEP announced yesterday. This move is consistent with our thesis on EEP - that many investors are missing the series of steps management has been taking recently, to move EEP from what has been lagging distribution growth to at least average distribution growth in the coming years. Recall, EEP announced $10B of assets available for drop downs at its Analyst Day in April, then capped the IDRs back in July and increased its distribution by 2% with its 2Q results. The current series of decisions are the most significantly positive taken by EEP since we first picked up coverage some 7 years ago.”

Enbridge Energy Partners, L.P. closed on Wednesday at $37.93.

Latest Ratings for EEP

DateFirmActionFromTo
Sep 2018Morgan StanleyMaintainsUnderweightUnderweight
Jul 2018Morgan StanleyMaintainsUnderweightUnderweight
Jun 2018Morgan StanleyMaintainsUnderweightUnderweight

View More Analyst Ratings for EEP
View the Latest Analyst Ratings

Posted-In: Credit Suisse John EdwardsAnalyst Color Price Target Analyst Ratings

 

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