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Is it Time to Add Enbridge Energy (EEP) Stock to Portfolio?
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We issued an updated research report on midstream player Enbridge Energy Partners, L.P. on May 23, 2017. The partnership’s distribution yield is highly impressive, which represents attractive returns for the stakeholders.
Enbridge Energy currently sports a Zacks Rank #1 (Strong Buy), implying that the stock will significantly outperform the broader U.S. equity market over the next one to three months.
The partnership’s focus on fee-based and diversified businesses has enabled it to dilute its business risks. We note that Enbridge’s current distribution yield of 7.9% is higher than the yield of 6.5% for the Zacks categorized Oil/Gas Production Pipeline MLP industry.
Moreover, the partnership has a secured-capital project program worth $28 billion. A few developments are already online, while most are yet to start service. Huge cash flow generations are expected from this project pipeline and should be lucrative for investors in the long run.
Also, Enbridge’s earnings surprise history is impressive. The partnership surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive earnings surprise of 38.22%.
Investors should also know that since the beginning of 2016, Enbridge has raised additional equity capital worth $4.5 billion. Moreover, Enbridge has raised capital worth $2 billion through hybrid financing. We should also consider the partnership’s $2.3 billion of asset monetization, which exceeded the initial target of $2 billion. All these developments have strengthened the partnership’s financials and should help it fund future development programs.
Other Stocks to Consider
Other players in the energy sector that warrant a look include Canadian Natural Resources Limited (CNQ - Free Report) , McDermott International Inc. and W&T Offshore Inc. (WTI - Free Report) . Canadian Natural and McDermott sport a Zacks Rank #1 (Strong Buy), while W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
We expect year-over-year earnings growth for Canadian Natural to be 720% for the current year.
McDermott beat the Zacks Consensus Estimate in each of the trailing four quarters with an average positive surprise of 387.50%.
W&T Offshore had an average positive earnings surprise of 69.21% in the last four quarters.
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Is it Time to Add Enbridge Energy (EEP) Stock to Portfolio?
We issued an updated research report on midstream player Enbridge Energy Partners, L.P. on May 23, 2017. The partnership’s distribution yield is highly impressive, which represents attractive returns for the stakeholders.
Enbridge Energy currently sports a Zacks Rank #1 (Strong Buy), implying that the stock will significantly outperform the broader U.S. equity market over the next one to three months.
The partnership’s focus on fee-based and diversified businesses has enabled it to dilute its business risks. We note that Enbridge’s current distribution yield of 7.9% is higher than the yield of 6.5% for the Zacks categorized Oil/Gas Production Pipeline MLP industry.
Moreover, the partnership has a secured-capital project program worth $28 billion. A few developments are already online, while most are yet to start service. Huge cash flow generations are expected from this project pipeline and should be lucrative for investors in the long run.
Also, Enbridge’s earnings surprise history is impressive. The partnership surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive earnings surprise of 38.22%.
Investors should also know that since the beginning of 2016, Enbridge has raised additional equity capital worth $4.5 billion. Moreover, Enbridge has raised capital worth $2 billion through hybrid financing. We should also consider the partnership’s $2.3 billion of asset monetization, which exceeded the initial target of $2 billion. All these developments have strengthened the partnership’s financials and should help it fund future development programs.
Other Stocks to Consider
Other players in the energy sector that warrant a look include Canadian Natural Resources Limited (CNQ - Free Report) , McDermott International Inc. and W&T Offshore Inc. (WTI - Free Report) . Canadian Natural and McDermott sport a Zacks Rank #1 (Strong Buy), while W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
We expect year-over-year earnings growth for Canadian Natural to be 720% for the current year.
McDermott beat the Zacks Consensus Estimate in each of the trailing four quarters with an average positive surprise of 387.50%.
W&T Offshore had an average positive earnings surprise of 69.21% in the last four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>