Taylor Hoffman Wealth Management reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,575 shares of the pipeline company’s stock after selling 984 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Enbridge were worth $275,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. JPMorgan Chase & Co. raised its position in Enbridge by 271.9% during the third quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock worth $79,350,000 after acquiring an additional 1,796,637 shares during the last quarter. Morgan Stanley raised its position in shares of Enbridge by 11.0% in the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock valued at $154,592,000 after buying an additional 472,660 shares during the last quarter. Vanguard Group Inc raised its position in shares of Enbridge by 2.5% in the third quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock valued at $1,570,144,000 after buying an additional 1,184,467 shares during the last quarter. BTR Capital Management Inc. acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $395,000. Finally, Mondrian Investment Partners LTD acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $67,000. 55.38% of the stock is currently owned by institutional investors.
In related news, insider Cynthia L. Hansen purchased 799 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $49.13 per share, with a total value of $39,254.87. Following the completion of the transaction, the insider now owns 105,423 shares of the company’s stock, valued at approximately $5,179,431.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William T. Yardley sold 14,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total transaction of $551,002.00. Following the transaction, the insider now directly owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
ENB stock traded up $0.28 on Friday, hitting $37.27. 108,863 shares of the company were exchanged, compared to its average volume of 3,486,162. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $37.96. 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 firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 1.85 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on ENB shares. Bank of America reissued a “buy” rating on shares of Enbridge in a research report on Tuesday, March 5th. UBS Group lowered shares of Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Scotia Howard Weill lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, National Bank Financial lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 price objective for the company. in a research report on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.46.
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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