13,700 Enbridge Inc $ENB Shares Purchased by TrinityBridge Ltd

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Envestnet Asset Management Inc. grew its stake in Enbridge by 0.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,844,716 shares of the pipeline company’s stock valued at $208,427,000 after purchasing an additional 26,591 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Enbridge by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after purchasing an additional 268,800 shares in the last quarter. Empowered Funds LLC raised its position in shares of Enbridge by 24.2% in the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock valued at $5,956,000 after purchasing an additional 21,442 shares in the last quarter. SCS Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at approximately $9,204,000. Finally, BlackRock Inc. acquired a new position in shares of Enbridge in the 2nd quarter valued at approximately $183,623,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.5%

Shares of NYSE ENB opened at $48.94 on Wednesday. The stock’s 50 day moving average price is $48.23 and its two-hundred day moving average price is $52.17. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The stock has a market capitalization of $109.07 billion, a P/E ratio of 26.17, a PEG ratio of 5.91 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a research note on Monday, September 14th. TD Securities reaffirmed a “buy” rating on shares of Enbridge in a report on Friday, October 16th. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.88.

Read Our Latest Report on Enbridge

Enbridge Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.