Meristem Family Wealth LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,165 shares of the pipeline company’s stock, valued at approximately $441,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in shares of Enbridge by 2.5% during 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 purchasing an additional 1,184,467 shares during the period. TD Asset Management Inc. increased its position in shares of Enbridge by 4.1% during the fourth quarter. TD Asset Management Inc. now owns 44,948,053 shares of the pipeline company’s stock worth $1,395,700,000 after acquiring an additional 1,777,466 shares in the last quarter. Jarislowsky Fraser Ltd increased its position in shares of Enbridge by 0.5% during the fourth quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock worth $764,101,000 after acquiring an additional 131,550 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Enbridge by 7.3% during the fourth quarter. CIBC Asset Management Inc now owns 21,768,519 shares of the pipeline company’s stock worth $676,429,000 after acquiring an additional 1,473,958 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Enbridge by 13.6% during the fourth quarter. Mackenzie Financial Corp now owns 21,632,644 shares of the pipeline company’s stock worth $672,343,000 after acquiring an additional 2,584,814 shares in the last quarter. 56.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ENB stock traded down $0.32 during trading on Wednesday, reaching $37.25. 1,445,898 shares of the company’s stock traded hands, compared to its average volume of 3,497,441. The stock has a market capitalization of $75.50 billion, a P/E ratio of 18.17, a PEG ratio of 2.40 and a beta of 0.69. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $37.96.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same period in the prior year, the company posted $0.82 EPS. On average, equities analysts predict that Enbridge Inc will post 1.85 EPS for the current year.
In other Enbridge news, insider William T. Yardley sold 14,900 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the sale, the insider now directly owns 94,770 shares in the company, valued at approximately $3,504,594.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Allen C. Capps sold 6,514 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $37.02, for a total transaction of $241,148.28. Following the sale, the insider now owns 3,437 shares in the company, valued at approximately $127,237.74. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Several research firms have recently commented on ENB. Credit Suisse Group downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Evercore ISI began coverage on shares of Enbridge in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. ValuEngine raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Scotiabank downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.46.
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Enbridge Company Profile
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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