Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 32.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,631 shares of the pipeline company’s stock after acquiring an additional 57,652 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Enbridge were worth $9,269,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ENB. CGOV Asset Management lifted its position in Enbridge by 49.1% during the 1st quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock valued at $60,927,000 after acquiring an additional 360,225 shares during the period. United States Steel & Carnegie Pension Fund increased its stake in Enbridge by 27.0% during the 1st quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock valued at $68,949,000 after purchasing an additional 350,450 shares in the last quarter. BP PLC bought a new stake in Enbridge during the 1st quarter valued at about $3,625,000. Northwestern Mutual Wealth Management Co. increased its stake in Enbridge by 409.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 45,898 shares of the pipeline company’s stock valued at $1,920,000 after purchasing an additional 36,887 shares in the last quarter. Finally, South State Corp bought a new stake in Enbridge during the 1st quarter valued at about $251,000. 61.58% of the stock is owned by institutional investors.
Enbridge Inc (ENB) traded up 0.60% during mid-day trading on Wednesday, reaching $41.61. 241,475 shares of the company’s stock were exchanged. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09. The firm has a market capitalization of $68.48 billion, a P/E ratio of 39.11 and a beta of 0.65. The company’s 50-day moving average is $40.93 and its 200 day moving average is $40.56.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the previous year, the business earned $0.50 earnings per share. Equities analysts predict that Enbridge Inc will post $1.63 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Morgan Stanley restated an “equal weight” rating and set a $44.00 price objective (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Enbridge presently has an average rating of “Hold” and a consensus price target of $56.00.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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