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Our short position. Enbridge Energy Management, L.L.C. is a limited partner of Enbridge Energy Partners, L.P. (the Partnership), which owns and operates a diversified portfolio of crude oil transportation systems in the United States. The Partnership's principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The Company owns i-units, a special class of the Partnership's limited partner interests. The Company manages the business of the Partnership. As such it is well suited in terms of sector diversification of our portfolio. EEQ has a weak Piotroski score of 2 points indicating a weak financial position, and in many studies also lower than average yields. Moreover, the company has a momentum score of 6; the stock is on decline and we believe this decline will continue.
Long-short momentum strategy | Dropped out from top10 PI ranking, closing position | Adjusting towards backtesting supported allocation