Comerica Bank cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.0% in the first quarter, HoldingsChannel.com reports. The firm owned 146,477 shares of the pipeline company’s stock after selling 7,778 shares during the period. Comerica Bank’s holdings in Enbridge were worth $5,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Reilly Financial Advisors LLC raised its position in shares of Enbridge by 16.0% in the fourth quarter. Reilly Financial Advisors LLC now owns 2,138 shares of the pipeline company’s stock worth $66,000 after acquiring an additional 295 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Enbridge by 58.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Clarus Wealth Advisors raised its position in shares of Enbridge by 27.5% in the first quarter. Clarus Wealth Advisors now owns 1,476 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 318 shares during the period. CWM LLC raised its position in shares of Enbridge by 14.5% in the first quarter. CWM LLC now owns 2,512 shares of the pipeline company’s stock worth $91,000 after acquiring an additional 318 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in shares of Enbridge by 21.2% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,850 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 323 shares during the period. Institutional investors own 56.65% of the company’s stock.
A number of research analysts have weighed in on ENB shares. Wells Fargo & Co reiterated a “buy” rating on shares of Enbridge in a research report on Monday, February 18th. Scotia Howard Weill downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Bank of America reiterated a “buy” rating on shares of Enbridge in a research report on Tuesday, March 5th. Finally, National Bank Financial upgraded shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Enbridge currently has a consensus rating of “Buy” and a consensus price target of $46.46.
Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. The business had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 1.7 EPS for the current fiscal year.
In other news, insider William T. Yardley sold 14,900 shares of the business’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 completion of the sale, the insider now owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Hansen bought 799 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $49.13 per share, with a total value of $39,254.87. Following the purchase, the insider now directly owns 105,423 shares of the company’s stock, valued at $5,179,431.99. The disclosure for this purchase can be found here. 0.42% of the stock is owned by insiders.
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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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