Enbridge Inc (ENB) Shares Sold by First United Bank Trust
First United Bank Trust decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,430 shares of the pipeline company’s stock after selling 3,267 shares during the period. First United Bank Trust’s holdings in Enbridge were worth $478,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC acquired a new position in Enbridge during the 2nd quarter valued at about $2,812,000. Scotia Capital Inc. increased its stake in Enbridge by 8.1% during the 2nd quarter. Scotia Capital Inc. now owns 4,590,960 shares of the pipeline company’s stock valued at $182,901,000 after buying an additional 344,339 shares during the period. Sentry Investments Corp. increased its stake in Enbridge by 422.2% during the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock valued at $156,409,000 after buying an additional 2,447,900 shares during the period. Federated Investors Inc. PA acquired a new position in Enbridge during the 2nd quarter valued at about $7,992,000. Finally, Synovus Financial Corp increased its stake in Enbridge by 3.1% during the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock valued at $8,718,000 after buying an additional 6,649 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.
ENB has been the topic of several research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. GMP Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Enbridge currently has an average rating of “Hold” and an average target price of $56.00.
Shares of Enbridge Inc (NYSE ENB) traded down 0.13% during trading on Monday, hitting $39.26. 752,065 shares of the stock traded hands. The company has a 50 day moving average of $41.12 and a 200-day moving average of $40.54. The company has a market cap of $64.61 billion, a PE ratio of 30.82 and a beta of 0.65. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the company earned $0.50 EPS. On average, equities analysts anticipate that Enbridge Inc will post $1.63 EPS for the current fiscal year.
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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