Ballentine Partners LLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,215 shares of the pipeline company’s stock after purchasing an additional 7,651 shares during the quarter. Ballentine Partners LLC’s holdings in Enbridge were worth $1,386,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ENB. Norges Bank purchased a new position in Enbridge during the 4th quarter valued at $552,827,000. Harvest Fund Advisors LLC purchased a new position in Enbridge during the 4th quarter valued at $263,042,000. Energy Income Partners LLC boosted its holdings in Enbridge by 6,035.2% during the 4th quarter. Energy Income Partners LLC now owns 7,137,359 shares of the pipeline company’s stock valued at $221,829,000 after acquiring an additional 7,021,025 shares during the period. Bank of Nova Scotia boosted its holdings in Enbridge by 64.8% during the 4th quarter. Bank of Nova Scotia now owns 11,871,528 shares of the pipeline company’s stock valued at $368,967,000 after acquiring an additional 4,667,244 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Enbridge during the 1st quarter valued at $225,056,000. Hedge funds and other institutional investors own 55.38% of the company’s stock.
Shares of NYSE ENB opened at $37.47 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.56. The firm has a market cap of $75.82 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.37 and a beta of 0.69. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $37.96.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $12.96 billion. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. During the same period in the previous year, the company posted $0.82 EPS. Research analysts expect that Enbridge Inc will post 1.85 earnings per share for the current fiscal year.
A number of research firms recently issued reports on ENB. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, February 5th. National Bank Financial upgraded Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Wednesday, March 20th. ValuEngine cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Wells Fargo & Co restated a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Finally, Bank of America restated a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.46.
In other Enbridge news, insider William T. Yardley sold 14,900 shares of Enbridge stock in a transaction 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 completion of the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Albert Monaco bought 7,806 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $49.33 per share, with a total value of $385,069.98. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.
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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