Duff & Phelps Investment Management Co. cut its position in Enbridge Inc. (NYSE:ENB) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 1,833,021 shares of the company’s stock after selling 5,880 shares during the period. Enbridge comprises approximately 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 26th largest position. Duff & Phelps Investment Management Co.’s holdings in Enbridge were worth $77,646,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ENB. Zions Bancorporation increased its position in Enbridge by 508.9% in the first quarter. Zions Bancorporation now owns 4,311 shares of the company’s stock worth $170,000 after buying an additional 3,603 shares during the last quarter. Atria Investments LLC bought a new position in Enbridge during the second quarter worth about $220,000. Jones Financial Companies Lllp increased its position in Enbridge by 7.9% in the first quarter. Jones Financial Companies Lllp now owns 11,382 shares of the company’s stock worth $443,000 after buying an additional 831 shares during the last quarter. Acadian Asset Management LLC bought a new position in Enbridge during the second quarter worth about $940,000. Finally, Envestnet Asset Management Inc. increased its position in Enbridge by 142.6% in the first quarter. Envestnet Asset Management Inc. now owns 29,064 shares of the company’s stock worth $1,131,000 after buying an additional 17,085 shares during the last quarter. 66.79% of the stock is owned by institutional investors.
Enbridge Inc. (NYSE:ENB) traded up 0.70% during midday trading on Tuesday, hitting $44.32. 2,769,556 shares of the stock were exchanged. The company has a market cap of $41.41 billion, a PE ratio of 40.40 and a beta of 0.63. The firm’s 50 day moving average price is $43.25 and its 200 day moving average price is $41.51. Enbridge Inc. has a 12 month low of $27.43 and a 12 month high of $45.77.
Enbridge (NYSE:ENB) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. Enbridge had a net margin of 4.29% and a return on equity of 12.96%. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities research analysts forecast that Enbridge Inc. will post $1.77 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on ENB shares. Goldman Sachs Group Inc. raised shares of Enbridge from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $48.00 in a research note on Wednesday, September 7th. TD Securities reissued a “buy” rating and issued a $59.00 price target (up from $58.00) on shares of Enbridge in a research note on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating on shares of Enbridge in a research note on Sunday, September 4th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Bank of America Corp. started coverage on shares of Enbridge in a research note on Thursday, September 1st. They issued a “neutral” rating and a $56.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $56.50.
Enbridge Company Profile
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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