Creative Planning reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,957 shares of the pipeline company’s stock after selling 3,973 shares during the quarter. Creative Planning’s holdings in Enbridge were worth $5,474,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ENB. JPMorgan Chase & Co. grew its position in shares of Enbridge by 271.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock worth $79,350,000 after buying an additional 1,796,637 shares during the period. Bank of New York Mellon Corp grew its position in shares of Enbridge by 23.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,529,463 shares of the pipeline company’s stock worth $81,677,000 after buying an additional 483,493 shares during the period. Standard Life Aberdeen plc grew its position in shares of Enbridge by 58.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 475,200 shares of the pipeline company’s stock worth $15,347,000 after buying an additional 175,700 shares during the period. Paloma Partners Management Co acquired a new position in shares of Enbridge during the 3rd quarter worth about $235,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Enbridge during the 3rd quarter worth about $161,000. Institutional investors own 56.44% of the company’s stock.
Several equities analysts have recently issued reports on the company. Credit Suisse Group lowered Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Barclays began coverage on Enbridge in a research report on Tuesday, April 9th. They set an “overweight” rating for the company. Industrial Alliance Securities reiterated a “buy” rating on shares of Enbridge in a report on Monday, April 8th. ValuEngine cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, National Bank Financial upgraded Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and a consensus target price of $46.46.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. The business had revenue of $8.75 billion for the quarter, compared to analysts’ expectations of $12.27 billion. During the same quarter in the previous year, the business posted $0.61 EPS. As a group, equities analysts expect that Enbridge Inc will post 1.71 EPS for the current fiscal year.
In other Enbridge news, insider Albert Monaco acquired 7,806 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $49.33 per share, for a total transaction of $385,069.98. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cynthia L. Hansen bought 799 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $49.13 per share, for a total transaction of $39,254.87. Following the purchase, the insider now directly owns 105,423 shares in the company, valued at approximately $5,179,431.99. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.
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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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