Moors & Cabot Inc. increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 119,622 shares of the pipeline company’s stock after buying an additional 636 shares during the period. Moors & Cabot Inc.’s holdings in Enbridge were worth $4,334,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ENB. Norges Bank bought a new position in shares of Enbridge during the fourth quarter worth about $552,827,000. Harvest Fund Advisors LLC bought a new position in Enbridge in the fourth quarter valued at approximately $263,042,000. Energy Income Partners LLC grew its stake in Enbridge by 6,035.2% in the fourth quarter. Energy Income Partners LLC now owns 7,137,359 shares of the pipeline company’s stock valued at $221,829,000 after purchasing an additional 7,021,025 shares in the last quarter. Bank of Nova Scotia grew its stake in Enbridge by 64.8% in the fourth quarter. Bank of Nova Scotia now owns 11,871,528 shares of the pipeline company’s stock valued at $368,967,000 after purchasing an additional 4,667,244 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in Enbridge by 310.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 5,916,717 shares of the pipeline company’s stock valued at $183,879,000 after purchasing an additional 4,475,076 shares in the last quarter. Institutional investors and hedge funds own 56.95% of the company’s stock.
A number of research analysts have weighed in on ENB shares. Scotiabank downgraded Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. National Bank Financial downgraded Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 price target for the company. in a research note on Monday, March 4th. Credit Suisse Group downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Barclays started coverage on Enbridge in a research note on Tuesday, April 9th. They issued an “overweight” rating for the company. Finally, Industrial Alliance Securities restated a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.46.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the firm posted $0.82 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 1.8 earnings per share for the current fiscal year.
In other Enbridge news, insider Cynthia L. Hansen acquired 799 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $49.13 per share, with a total value of $39,254.87. Following the completion of the transaction, the insider now directly owns 105,423 shares in the company, valued at approximately $5,179,431.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William T. Yardley sold 14,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value 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 $3,504,594.60. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
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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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