Korea Investment CORP trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,665 shares of the pipeline company’s stock after selling 22,400 shares during the period. Korea Investment CORP’s holdings in Enbridge were worth $23,626,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. CGOV Asset Management raised its holdings in shares of Enbridge by 49.1% during the 1st quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock valued at $60,927,000 after buying an additional 360,225 shares in the last quarter. United States Steel & Carnegie Pension Fund raised its holdings in shares of Enbridge by 27.0% during the 1st quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock valued at $68,949,000 after buying an additional 350,450 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Enbridge during the 1st quarter valued at about $403,000. United Services Automobile Association purchased a new position in shares of Enbridge during the 1st quarter valued at about $448,000. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Enbridge during the 1st quarter valued at about $11,457,000. 61.64% of the stock is currently owned by institutional investors.
Enbridge Inc (NYSE ENB) opened at 38.42 on Monday. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $44.51. The stock has a market capitalization of $63.23 billion, a PE ratio of 30.16 and a beta of 0.65. The firm has a 50-day moving average price of $40.81 and a 200-day moving average price of $40.41.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts predict that Enbridge Inc will post $1.58 EPS for the current fiscal year.
A number of brokerages have commented on ENB. GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub cut Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Enbridge currently has a consensus rating of “Hold” and an average price target of $56.00.
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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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