Doyle Wealth Management bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,815 shares of the pipeline company’s stock, valued at approximately $243,000.
Other large investors also recently bought and sold shares of the company. Monroe Bank & Trust MI bought a new stake in Enbridge in the 1st quarter worth approximately $105,000. NEXT Financial Group Inc grew its position in Enbridge by 17.7% in the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 411 shares during the period. First Personal Financial Services grew its position in Enbridge by 16.4% in the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 397 shares during the period. Welch Group LLC bought a new stake in Enbridge in the 2nd quarter worth approximately $121,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in Enbridge in the 2nd quarter worth approximately $159,000. 61.64% of the stock is owned by institutional investors and hedge funds.
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A number of research firms have commented on ENB. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Enbridge presently has an average rating of “Hold” and an average target price of $56.00.
Shares of Enbridge Inc (NYSE ENB) traded up 0.6765% on Monday, hitting $38.6799. 100,646 shares of the stock traded hands. Enbridge Inc has a one year low of $37.37 and a one year high of $44.52. The company has a market cap of $63.66 billion, a PE ratio of 30.3610 and a beta of 0.65. The stock has a 50 day moving average of $40.81 and a 200 day moving average of $40.41.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the previous year, the company earned $0.50 EPS. Equities analysts anticipate that Enbridge Inc will post $1.58 earnings per share for the current year.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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