OLD Point Trust & Financial Services N A raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,216 shares of the pipeline company’s stock after purchasing an additional 1,397 shares during the period. Enbridge accounts for approximately 2.8% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 13th largest holding. OLD Point Trust & Financial Services N A’s holdings in Enbridge were worth $5,420,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hanson McClain Inc. raised its position in shares of Enbridge by 41.9% in the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock worth $36,000 after buying an additional 297 shares in the last quarter. Berman Capital Advisors LLC raised its position in Enbridge by 74.5% during the first quarter. Berman Capital Advisors LLC now owns 1,047 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 447 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in Enbridge during the first quarter valued at about $42,000. Pin Oak Investment Advisors Inc. purchased a new stake in Enbridge during the fourth quarter valued at about $52,000. Finally, Clarus Wealth Advisors raised its position in Enbridge by 27.5% during the first quarter. Clarus Wealth Advisors now owns 1,476 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 318 shares in the last quarter. 55.12% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ENB traded down $0.31 during trading hours on Tuesday, hitting $35.42. The company’s stock had a trading volume of 1,733,881 shares, compared to its average volume of 3,396,642. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.56 and a current ratio of 0.64. The stock has a market capitalization of $72.34 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04. The stock has a 50-day moving average price of $35.63.
Several research firms have recently commented on ENB. Bank of America set a $25.00 price objective on Bed Bath & Beyond and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a report on Monday, April 8th. Goldman Sachs Group began coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating on the stock. Barclays set a $192.00 price objective on Tesla and gave the stock a “sell” rating in a report on Tuesday, April 9th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.75.
In other news, insider Albert Monaco acquired 7,848 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average cost of $49.81 per share, with a total value of $390,908.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by company insiders.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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