Charter Trust Co. Sells 2,800 Shares of Enbridge Inc (ENB)
Charter Trust Co. lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 32.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,856 shares of the pipeline company’s stock after selling 2,800 shares during the period. Charter Trust Co.’s holdings in Enbridge were worth $233,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of ENB. Triangle Securities Wealth Management bought a new stake in shares of Enbridge during the first quarter valued at $2,496,000. Woodstock Corp bought a new stake in shares of Enbridge during the first quarter valued at $2,980,000. McQueen Ball & Associates Inc. bought a new stake in shares of Enbridge during the first quarter valued at $1,829,000. Franklin Street Advisors Inc. NC bought a new stake in shares of Enbridge during the first quarter valued at $666,000. Finally, First Financial Bank N.A. Trust Division bought a new stake in shares of Enbridge during the first quarter valued at $332,000. 62.95% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) opened at 41.90 on Friday. The stock has a market cap of $68.67 billion, a PE ratio of 44.43 and a beta of 0.61. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.77. The stock has a 50 day moving average price of $39.46 and a 200-day moving average price of $41.16.
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A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, April 24th. Wells Fargo & Company reissued a “market perform” rating on shares of Enbridge in a report on Friday, March 31st. Morgan Stanley assumed coverage on Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price for the company. Wolfe Research assumed coverage on Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Finally, BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Enbridge presently has an average rating of “Hold” and a consensus target price of $54.00.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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