Private Trust Co. NA Lowers Stake in Enbridge Inc (NYSE:ENB)
Private Trust Co. NA reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,073 shares of the pipeline company’s stock after selling 442 shares during the period. Private Trust Co. NA’s holdings in Enbridge were worth $281,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. First Personal Financial Services bought a new stake in shares of Enbridge during the first quarter valued at about $102,000. Financial Architects Inc boosted its stake in shares of Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares in the last quarter. Monroe Bank & Trust MI bought a new stake in shares of Enbridge during the first quarter valued at about $105,000. Kistler Tiffany Companies LLC bought a new stake in shares of Enbridge during the first quarter valued at about $109,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Enbridge during the first quarter valued at about $111,000. Institutional investors own 62.95% of the company’s stock.
Enbridge Inc (ENB) opened at 41.81 on Friday. The firm has a 50-day moving average of $39.46 and a 200 day moving average of $41.16. The company has a market capitalization of $68.52 billion, a P/E ratio of 44.34 and a beta of 0.61. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77.
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Several equities research analysts recently issued reports on ENB shares. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Wolfe Research started coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price on the stock. Wells Fargo & Company restated a “market perform” rating on shares of Enbridge in a report on Friday, March 31st. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Enbridge currently has an average rating of “Hold” and a consensus price target of $54.00.
Enbridge Company Profile
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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