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Enbridge Energy (EEP) Catches Eye: Stock Jumps 7.4%

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Enbridge Energy Partners, L.P. EEP was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $9.79 to $10.40 in the past one-month time frame.

The move came after the company’s Line 3 replacement project received approval from the Minnesota Public Utilities Commission.

The company has seen one positive estimate revision in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Enbridge Energy. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Enbridge Energy currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.  

Enbridge Energy Partners, L.P. Price

Enbridge Energy Partners, L.P. Price | Enbridge Energy Partners, L.P. Quote

A better-ranked stock in the Oil and Gas - Production Pipeline - MLP industry is Summit Midstream Partners, LP SMLP, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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