Woodstock Corp lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% in the 2nd quarter, Holdings Channel reports. The firm owned 54,093 shares of the pipeline company’s stock after selling 4,379 shares during the period. Woodstock Corp’s holdings in Enbridge were worth $1,646,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ENB. Capital International Investors grew its holdings in Enbridge by 22.0% during the 1st quarter. Capital International Investors now owns 155,763,559 shares of the pipeline company’s stock valued at $4,533,297,000 after buying an additional 28,059,331 shares in the last quarter. Norges Bank purchased a new stake in shares of Enbridge during the fourth quarter worth about $745,793,000. Capital Research Global Investors increased its holdings in shares of Enbridge by 746.5% during the fourth quarter. Capital Research Global Investors now owns 20,004,472 shares of the pipeline company’s stock valued at $795,378,000 after acquiring an additional 17,641,163 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Enbridge by 55.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,899,972 shares of the pipeline company’s stock worth $869,790,000 after purchasing an additional 10,695,387 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Enbridge by 24.2% during the 4th quarter. Toronto Dominion Bank now owns 14,611,513 shares of the pipeline company’s stock valued at $599,968,000 after purchasing an additional 2,842,668 shares in the last quarter. 54.71% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Enbridge in a report on Tuesday, April 14th. Credit Suisse Group reissued a “hold” rating and issued a $48.00 price objective on shares of Enbridge in a report on Friday, June 26th. Stifel Nicolaus lifted their target price on Enbridge from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, May 8th. UBS Group dropped their target price on Enbridge from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 3rd. Finally, CIBC reduced their price target on shares of Enbridge from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $51.87.
NYSE ENB traded down $0.04 during trading hours on Tuesday, reaching $30.45. The company’s stock had a trading volume of 2,058,718 shares, compared to its average volume of 3,301,887. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.58 and a quick ratio of 0.53. Enbridge Inc has a 1-year low of $22.57 and a 1-year high of $43.15. The company’s 50-day moving average is $31.55 and its two-hundred day moving average is $34.36. The firm has a market capitalization of $61.73 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 1.67 and a beta of 0.83.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.32. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.52 billion. Enbridge had a net margin of 4.88% and a return on equity of 8.84%. During the same period in the prior year, the business posted $0.81 earnings per share. Equities analysts forecast that Enbridge Inc will post 1.91 EPS for the current fiscal year.
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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