Arden Trust Co increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 21.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,618 shares of the pipeline company’s stock after acquiring an additional 3,750 shares during the period. Arden Trust Co’s holdings in Enbridge were worth $631,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of Enbridge during the second quarter valued at approximately $26,000. Keebeck Wealth Management LLC purchased a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. Rockbridge Investment Management LCC bought a new stake in Enbridge in the second quarter worth $31,000. TCI Wealth Advisors Inc. grew its stake in shares of Enbridge by 116.1% in the second quarter. TCI Wealth Advisors Inc. now owns 1,031 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 554 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its stake in shares of Enbridge by 1,492.5% in the second quarter. AlphaMark Advisors LLC now owns 1,067 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 1,000 shares during the last quarter. 52.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ENB opened at $29.45 on Friday. The stock’s 50-day simple moving average is $30.56 and its two-hundred day simple moving average is $30.90. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.54 and a beta of 0.83. Enbridge Inc has a 52-week low of $22.57 and a 52-week high of $43.15. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.52 and a current ratio of 0.61.
A number of brokerages recently issued reports on ENB. Royal Bank of Canada dropped their price target on shares of Enbridge from $61.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Citigroup upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, August 13th. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Credit Suisse Group reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Enbridge in a research report on Friday, June 26th. Finally, CIBC lifted their target price on Enbridge from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.50.
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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