Guess Who Picked Enbridge Energy Management LLC (NYSE:EEQ) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Enbridge Energy Management LLC (NYSE:EEQ) reported that First Trust Portfolios Lp has picked up 8,579,932 of common stock as of 2017-05-10.

The acquisition brings the aggregate amount owned by First Trust Portfolios Lp to a total of 8,579,932 representing less than 10.22% stake in the company.

For those not familiar with the company, Enbridge Energy Management, L.L.C. is a limited partner of Enbridge Energy Partners, L.P. (the Partnership). The Company owns i-units, a special class of the Partnership’s limited partner interests. The Company manages the business of the Partnership. The Partnership owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States.

A glance at Enbridge Energy Management LLC (NYSE:EEQ)’s key stats reveals a current market capitalization of 1.44 Billion based on 85.62 Million shares outstanding and a price at last close of $17.09 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-11-07, Maki picked up 3,000 at a purchase price of $34.67. This brings their total holding to 5,791 as of the date of the filing.

On the sell side, the most recent transaction saw Hesse unload 5,000 shares at a sale price of $64.01. This brings their total holding to 23,404.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Enbridge Energy Management LLC (NYSE:EEQ) as things move forward to see if its progress aligns with these transactions.

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