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Why Enbridge Energy (EEQ) Could Be Positioned For a Surge
July 08, 2014

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Enbridge Energy Management LLC (EEQ - Free Report) is an Oil and Gas Producer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EEQ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Enbridge Energy could be a solid choice for investors.

Current Quarter Estimates for EEQ

In the past 30 days, 2 estimates have gone higher for Enbridge Energy with no downward revision in the same time period. The consensus estimate has remained constant at 23 cents over the same time period.

Current Year Estimates for EEQ

Meanwhile, Enbridge Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 83 cents per share 30 days ago to 98 cents per share today, an increase of 18.1%.

Bottom Line

The stock has also started to move higher lately, adding 15.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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