Tradewinds Capital Management LLC continued to hold its stake in Enbridge Inc. (NYSE:ENB) during the second quarter, Holdings Channel reports. The firm owned 5,317 shares of the company’s stock at the end of the second quarter. Tradewinds Capital Management LLC’s holdings in Enbridge were worth $225,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ENB. CIBC World Markets Inc. boosted its stake in Enbridge by 2.9% in the second quarter. CIBC World Markets Inc. now owns 13,784,859 shares of the company’s stock worth $583,927,000 after buying an additional 382,434 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Enbridge by 12.5% in the first quarter. 1832 Asset Management L.P. now owns 10,996,811 shares of the company’s stock worth $665,615,000 after buying an additional 1,222,649 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Enbridge by 114.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 6,215,000 shares of the company’s stock worth $242,940,000 after buying an additional 3,322,500 shares during the last quarter. Legal & General Group Plc boosted its stake in Enbridge by 2.0% in the first quarter. Legal & General Group Plc now owns 5,953,022 shares of the company’s stock worth $232,693,000 after buying an additional 115,175 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Enbridge by 26.6% in the first quarter. Scotia Capital Inc. now owns 3,506,103 shares of the company’s stock worth $136,397,000 after buying an additional 736,759 shares during the last quarter. 66.77% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc. (NYSE:ENB) traded down 0.02% during midday trading on Friday, reaching $44.06. The company had a trading volume of 1,373,388 shares. The stock’s 50 day moving average is $43.02 and its 200 day moving average is $41.38. Enbridge Inc. has a 12-month low of $27.43 and a 12-month high of $45.77. The firm has a market capitalization of $41.16 billion, a price-to-earnings ratio of 40.16 and a beta of 0.64.
Enbridge (NYSE:ENB) last issued its earnings results on Friday, July 29th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. Enbridge had a return on equity of 12.96% and a net margin of 4.29%. During the same period in the prior year, the company earned $0.60 earnings per share. Equities research analysts expect that Enbridge Inc. will post $1.77 earnings per share for the current year.
A number of analysts recently issued reports on ENB shares. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Bank of America Corp. started coverage on Enbridge in a research note on Thursday, September 1st. They set a “neutral” rating and a $56.00 target price for the company. RBC Capital Markets reissued an “outperform” rating on shares of Enbridge in a research note on Sunday, September 4th. Canaccord Genuity reissued a “buy” rating on shares of Enbridge in a research note on Sunday, September 4th. Finally, TD Securities reaffirmed a “buy” rating and set a $59.00 price target (up previously from $58.00) on shares of Enbridge in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.50.
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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