Meag Munich Ergo Kapitalanlagegesellschaft MBH maintained its stake in shares of Enbridge Inc. (NYSE:ENB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,500 shares of the company’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Enbridge were worth $6,733,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in ENB. Legal & General Group Plc increased its stake in shares of 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 in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Enbridge during the first quarter worth approximately $64,542,000. Jones Financial Companies Lllp increased its stake in shares of 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Enbridge during the second quarter worth approximately $940,000. Finally, Zions Bancorporation increased its stake in shares of 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 in the last quarter. Institutional investors own 66.79% of the company’s stock.
Shares of Enbridge Inc. (NYSE:ENB) traded up 1.04% on Wednesday, reaching $44.78. The company’s stock had a trading volume of 2,887,293 shares. The company has a market cap of $41.83 billion, a PE ratio of 40.82 and a beta of 0.64. The firm has a 50 day moving average of $43.38 and a 200 day moving average of $41.56. Enbridge Inc. has a 52-week low of $27.43 and a 52-week high of $45.77.
Enbridge (NYSE:ENB) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm posted $0.60 EPS. Analysts predict that Enbridge Inc. will post $1.77 earnings per share for the current year.
ENB has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating and issued a $61.00 target price on shares of Enbridge in a report on Friday, September 9th. Bank of America Corp. initiated coverage on Enbridge in a report on Thursday, September 1st. They issued 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 report on Sunday, September 4th. Canaccord Genuity reissued a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. Finally, Goldman Sachs Group Inc. raised Enbridge from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $48.00 in a report on Wednesday, September 7th. 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 issued a strong buy rating to the company. The company has an average 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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