Whittier Trust Co. Has $355,000 Stake in Enbridge Inc (ENB)
Whittier Trust Co. lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 8,931 shares of the pipeline company’s stock after selling 12 shares during the period. Whittier Trust Co.’s holdings in Enbridge were worth $355,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. bought a new position in Enbridge during the first quarter valued at about $325,000. Triangle Securities Wealth Management bought a new position in Enbridge during the first quarter valued at about $2,496,000. Woodstock Corp bought a new position in Enbridge during the first quarter valued at about $2,980,000. McQueen Ball & Associates Inc. bought a new position in Enbridge during the first quarter valued at about $1,829,000. Finally, Franklin Street Advisors Inc. NC bought a new position in Enbridge during the first quarter valued at about $666,000. Institutional investors own 63.24% of the company’s stock.
Enbridge Inc (ENB) opened at 41.69 on Wednesday. The firm has a market capitalization of $68.32 billion, a price-to-earnings ratio of 43.84 and a beta of 0.61. The company has a 50 day moving average price of $39.61 and a 200 day moving average price of $41.13. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.77.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wells Fargo & Company restated a “market perform” rating on shares of Enbridge in a research report on Friday, March 31st. Morgan Stanley assumed coverage on Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 target price for the company. Wolfe Research assumed coverage on Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 target price for the company. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price 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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