Creative Planning lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,141 shares of the pipeline company’s stock after selling 304 shares during the quarter. Creative Planning’s holdings in Enbridge were worth $5,723,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Bank of Nova Scotia Trust Co. grew its stake in shares of Enbridge by 12.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock worth $22,555,000 after acquiring an additional 69,399 shares during the last quarter. NEXT Financial Group Inc grew its stake in shares of Enbridge by 67.6% in the second quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock worth $910,000 after acquiring an additional 10,170 shares during the last quarter. National Pension Service purchased a new stake in shares of Enbridge in the second quarter worth $98,372,000. Lee Financial Group Hawaii Inc. purchased a new stake in shares of Enbridge in the second quarter worth $784,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Enbridge by 3.5% in the third quarter. Commonwealth Equity Services LLC now owns 435,376 shares of the pipeline company’s stock worth $15,273,000 after acquiring an additional 14,542 shares during the last quarter. Institutional investors own 54.21% of the company’s stock.
ENB stock traded up $0.73 during trading on Friday, reaching $37.46. The stock had a trading volume of 2,357,669 shares, compared to its average volume of 2,977,710. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04. The stock’s 50 day moving average is $35.85 and its two-hundred day moving average is $35.48. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm has a market cap of $74.72 billion, a PE ratio of 18.27, a PEG ratio of 2.80 and a beta of 0.58.
ENB has been the topic of a number of recent research reports. CIBC cut their target price on Enbridge from $57.00 to $56.00 in a research note on Wednesday, October 23rd. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research report on Friday, October 25th. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Barclays cut Enbridge from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $52.00 to $51.00 in a research report on Tuesday, October 15th. Finally, Goldman Sachs Group initiated coverage on Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $45.68.
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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