Bartlett & Co. LLC Buys 312,425 Shares of Enbridge Inc (NYSE:ENB)

Bartlett & Co. LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,339,038 shares of the pipeline company’s stock after purchasing an additional 312,425 shares during the period. Enbridge accounts for 1.2% of Bartlett & Co. LLC’s holdings, making the stock its 20th biggest holding. Bartlett & Co. LLC owned 0.07% of Enbridge worth $46,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Alberta Investment Management Corp increased its stake in Enbridge by 180.7% in the third quarter. Alberta Investment Management Corp now owns 5,289,155 shares of the pipeline company’s stock valued at $185,760,000 after purchasing an additional 3,405,100 shares in the last quarter. Renaissance Technologies LLC increased its stake in Enbridge by 288.8% in the second quarter. Renaissance Technologies LLC now owns 3,784,001 shares of the pipeline company’s stock valued at $136,566,000 after purchasing an additional 2,810,630 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Enbridge by 1,462.6% in the second quarter. Commonwealth Bank of Australia now owns 2,325,341 shares of the pipeline company’s stock valued at $84,009,000 after purchasing an additional 2,176,532 shares in the last quarter. National Pension Service bought a new stake in Enbridge in the second quarter valued at $98,372,000. Finally, Bank of America Corp DE increased its stake in Enbridge by 25.4% in the second quarter. Bank of America Corp DE now owns 7,249,206 shares of the pipeline company’s stock valued at $261,551,000 after purchasing an additional 1,466,849 shares in the last quarter. 54.21% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on ENB shares. ValuEngine downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $52.00 to $51.00 in a research note on Tuesday, October 15th. US Capital Advisors reiterated an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. Finally, Goldman Sachs Group initiated coverage on shares of Enbridge in a report on Thursday, July 18th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and a consensus target price of $44.79.

Shares of NYSE ENB opened at $36.91 on Thursday. The stock has a market capitalization of $74.62 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.79 and a beta of 0.58. The company has a 50-day moving average price of $35.82 and a 200-day moving average price of $35.48. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53.

Enbridge Profile

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.

Further Reading: Does a trade war provide a risk to the global economy?

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.