Farmers National Bank Invests $455,000 in Enbridge Inc (ENB)
Farmers National Bank purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,425 shares of the pipeline company’s stock, valued at approximately $455,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC purchased a new position in shares of Enbridge in the 2nd quarter worth $2,812,000. Sentry Investments Corp. boosted its stake in shares of Enbridge by 422.2% in the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock worth $156,409,000 after buying an additional 2,447,900 shares during the last quarter. Federated Investors Inc. PA purchased a new position in shares of Enbridge in the 2nd quarter worth $7,992,000. Synovus Financial Corp boosted its stake in shares of Enbridge by 3.1% in the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock worth $8,718,000 after buying an additional 6,649 shares during the last quarter. Finally, Kidder Stephen W purchased a new position in shares of Enbridge in the 1st quarter worth $1,310,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
A number of equities analysts have recently issued reports on the company. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 price target (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Enbridge has a consensus rating of “Hold” and an average price target of $56.00.
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Shares of Enbridge Inc (ENB) remained flat at $41.49 during trading on Friday. The company’s stock had a trading volume of 1,179,352 shares. The stock’s 50-day moving average price is $41.04 and its 200 day moving average price is $40.57. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.09. The firm has a market capitalization of $68.28 billion, a PE ratio of 38.99 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts predict that Enbridge Inc will post $1.64 EPS for the current year.
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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