Enbridge Inc (ENB) Shares Bought by Burgundy Asset Management Ltd.
Burgundy Asset Management Ltd. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 40.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,502,208 shares of the pipeline company’s stock after purchasing an additional 1,298,717 shares during the period. Enbridge comprises about 1.7% of Burgundy Asset Management Ltd.’s holdings, making the stock its 26th largest position. Burgundy Asset Management Ltd. owned 0.27% of Enbridge worth $179,227,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Enbridge by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock worth $265,000 after buying an additional 22 shares during the last quarter. Omnia Family Wealth LLC grew its holdings in shares of Enbridge by 0.4% during the second quarter. Omnia Family Wealth LLC now owns 7,405 shares of the pipeline company’s stock worth $295,000 after buying an additional 28 shares during the last quarter. HM Payson & Co. grew its holdings in shares of Enbridge by 0.8% during the second quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock worth $256,000 after buying an additional 50 shares during the last quarter. FineMark National Bank & Trust grew its holdings in shares of Enbridge by 0.6% during the second quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock worth $370,000 after buying an additional 53 shares during the last quarter. Finally, Hudock Capital Group LLC grew its holdings in shares of Enbridge by 1.0% during the second quarter. Hudock Capital Group LLC now owns 6,269 shares of the pipeline company’s stock worth $249,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.
Shares of Enbridge Inc (NYSE ENB) traded down 2.53% during midday trading on Friday, reaching $39.31. The company’s stock had a trading volume of 3,889,444 shares. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $44.52. The stock has a 50 day moving average of $41.12 and a 200-day moving average of $40.54. The company has a market capitalization of $64.70 billion, a P/E ratio of 30.86 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Enbridge Inc will post $1.63 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Morgan Stanley reissued an “equal weight” rating and set a $44.00 price target (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.00.
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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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