Electrical properties of magnetic nanocontact devices computed using finite-element simulations Appl. Phys. Lett. 100, 083507 (2012) High power and low critical current spin torque oscillation from a magnetic tunnel junction with a built-in hard axis polarizer Appl. Phys. Lett. 100, 032405 (2012) Gauge fields in spintronics App. Phys. Rev. 2011, 17 (2011 Gauge fields in spintronics J. Appl. Phys. 110, 121301 (2011) Additional information on Rev. Sci. Instrum. We report an enhanced magnetoelectric (ME) effect in a heterostructure consisting of a long-type, longitudinally-longitudinally polarized 0.71Pb(Mg 1/3 Nb 2/3 )O 3 -0.29PbTiO 3 (PMN-PT) piezoelectric single-crystal transformer with its input part sandwiched between two longitudinally magnetized Tb 0.3 Dy 0.7 Fe 1.92 (Terfenol-D) magnetostrictive alloy bars. The observed ME effect has two independent operational modes: namely, ME sensing mode and ME transduction mode. The ME sensing mode features a large ME voltage coefficient (α V ) of ∼0.32 V/Oe over a flat frequency range of 1-50 kHz, while the ME transduction mode possesses two colossal resonance α V of 7.6 and 7.9 V/Oe, corresponding to the first and second longitudinal resonances, at 56.2 and 127.9 kHz, respectively. This enhanced dual-mode ME effect not only enables the application potential of the heterostructure, but also advances the technology of power-free ME sensors and transducers.