Mutual Advisors LLC boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,357 shares of the pipeline company’s stock after acquiring an additional 2,738 shares during the quarter. Mutual Advisors LLC’s holdings in Enbridge were worth $679,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Enbridge by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock worth $2,214,876,000 after buying an additional 1,200,391 shares during the period. Great West Life Assurance Co. Can grew its stake in Enbridge by 6.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock valued at $468,753,000 after acquiring an additional 833,190 shares in the last quarter. Bank of Nova Scotia grew its stake in Enbridge by 0.8% during the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock valued at $448,587,000 after acquiring an additional 103,842 shares in the last quarter. Salient Capital Advisors LLC grew its stake in Enbridge by 5.2% during the 2nd quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock valued at $382,165,000 after acquiring an additional 519,679 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in Enbridge by 1.0% during the 2nd quarter. Scotia Capital Inc. now owns 8,243,112 shares of the pipeline company’s stock valued at $296,386,000 after acquiring an additional 78,848 shares in the last quarter. Hedge funds and other institutional investors own 54.21% of the company’s stock.
Several research firms have weighed in on ENB. CIBC lowered their target price on Enbridge from $57.00 to $56.00 in a research note on Wednesday, October 23rd. Barclays cut Enbridge from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $52.00 to $51.00 in a research note on Tuesday, October 15th. ValuEngine cut Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research note on Friday, October 25th. Finally, Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $44.79.
Shares of NYSE ENB traded up $0.07 during trading hours on Thursday, hitting $36.98. The stock had a trading volume of 191,255 shares, compared to its average volume of 2,924,112. The company has a market capitalization of $74.64 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.63. The firm’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $35.48. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04.
Enbridge Company 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.
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