IFG Advisory LLC increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.5% during the first quarter, HoldingsChannel.com reports. The fund owned 30,331 shares of the pipeline company’s stock after buying an additional 2,623 shares during the period. IFG Advisory LLC’s holdings in Enbridge were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in ENB. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 1,796,637 shares during the period. Morgan Stanley grew its position in Enbridge by 11.0% in the 3rd quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock valued at $154,592,000 after buying an additional 472,660 shares during the last quarter. Vanguard Group Inc grew its position in Enbridge by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock valued at $1,570,144,000 after buying an additional 1,184,467 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Enbridge by 31.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,651 shares of the pipeline company’s stock valued at $455,000 after buying an additional 3,504 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC grew its position in Enbridge by 3.8% in the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 16,727 shares of the pipeline company’s stock valued at $520,000 after buying an additional 614 shares during the last quarter. 55.38% of the stock is currently owned by institutional investors and hedge funds.
In other Enbridge news, insider Cynthia L. Hansen purchased 799 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $49.13 per share, for a total transaction 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 accessible through this link. Also, insider William T. Yardley sold 14,900 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the transaction, 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. Corporate insiders own 0.42% of the company’s stock.
Shares of NYSE ENB traded down $0.47 during midday trading on Thursday, reaching $36.78. The company’s stock had a trading volume of 52,157 shares, compared to its average volume of 3,173,092. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $37.96. The company has a market capitalization of $74.31 billion, a PE ratio of 18.17, a PEG ratio of 2.37 and a beta of 0.69. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.92.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. The company had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, research analysts expect that Enbridge Inc will post 1.85 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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