Enbridge Inc $ENB Stock Bought by TrinityBridge Ltd

TrinityBridge Ltd lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,670 shares of the pipeline company’s stock after buying an additional 13,700 shares during the period. TrinityBridge Ltd’s holdings in Enbridge were worth $3,332,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ENB. Retirement Planning Group LLC grew its position in Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after acquiring an additional 187 shares during the period. Bank & Trust Co raised its holdings in shares of Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock worth $1,804,000 after purchasing an additional 193 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after purchasing an additional 194 shares during the period. Clearwave Capital LLC lifted its stake in shares of Enbridge by 0.9% in the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock valued at $1,194,000 after purchasing an additional 204 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC lifted its stake in shares of Enbridge by 2.9% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 7,383 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 206 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Raymond James Financial reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. BMO Capital Markets upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price target on the stock in a report on Monday, September 14th. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, TD Securities reiterated a “buy” rating on shares of Enbridge in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Price Performance

Shares of NYSE ENB opened at $48.94 on Wednesday. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The business has a 50-day moving average of $48.23 and a 200-day moving average of $52.17. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market capitalization of $109.07 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 5.91 and a beta of 0.59.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.