Enbridge Inc $ENB Shares Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,702 shares of the pipeline company’s stock after purchasing an additional 1,010 shares during the period. Bank of Jackson Hole Trust’s holdings in Enbridge were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after buying an additional 1,569,879 shares in the last quarter. GQG Partners LLC lifted its stake in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the last quarter. TD Asset Management Inc lifted its stake in Enbridge by 1.6% during the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after purchasing an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE ENB opened at $47.12 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The stock has a 50 day moving average of $48.45 and a two-hundred day moving average of $46.64. The stock has a market cap of $102.75 billion, a P/E ratio of 23.21, a P/E/G ratio of 4.35 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.50.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.