Investors Research Corp bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,787 shares of the pipeline company’s stock, valued at approximately $101,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Enbridge by 271.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock valued at $79,350,000 after purchasing an additional 1,796,637 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Enbridge by 23.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,529,463 shares of the pipeline company’s stock valued at $81,677,000 after purchasing an additional 483,493 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in Enbridge by 58.7% in the 3rd quarter. Standard Life Aberdeen plc now owns 475,200 shares of the pipeline company’s stock valued at $15,347,000 after purchasing an additional 175,700 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Enbridge in the 3rd quarter valued at $235,000. Finally, Point72 Asset Management L.P. acquired a new stake in Enbridge in the 3rd quarter valued at $161,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total value of $241,148.28. Following the sale, the insider now directly owns 3,437 shares in the company, valued at approximately $127,237.74. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
Shares of NYSE ENB opened at $37.78 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $37.96. The stock has a market capitalization of $76.21 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. The firm had revenue of $8.75 billion for the quarter, compared to analysts’ expectations of $12.27 billion. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. During the same quarter last year, the company posted $0.61 earnings per share. As a group, analysts anticipate that Enbridge Inc will post 1.71 EPS for the current fiscal year.
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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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