Greystone Investment Management LLC Boosts Position in Enbridge Inc (ENB)
Greystone Investment Management LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 259.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 140,070 shares of the pipeline company’s stock after purchasing an additional 101,075 shares during the period. Enbridge comprises approximately 2.0% of Greystone Investment Management LLC’s portfolio, making the stock its 21st largest position. Greystone Investment Management LLC’s holdings in Enbridge were worth $4,520,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ENB. Centaurus Financial Inc. acquired a new position in shares of Enbridge in the second quarter worth $191,000. Home Federal Bank of Tennessee purchased a new stake in shares of Enbridge during the 2nd quarter worth $2,244,000. Highlander Capital Management LLC lifted its position in shares of Enbridge by 8.5% during the 2nd quarter. Highlander Capital Management LLC now owns 29,661 shares of the pipeline company’s stock worth $1,059,000 after purchasing an additional 2,314 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Enbridge by 15.7% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,662,200 shares of the pipeline company’s stock worth $78,123,000 after purchasing an additional 225,600 shares during the last quarter. Finally, Lcnb Corp lifted its position in shares of Enbridge by 27.4% during the 2nd quarter. Lcnb Corp now owns 28,771 shares of the pipeline company’s stock worth $1,027,000 after purchasing an additional 6,182 shares during the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.
Several equities research analysts have recently issued reports on ENB shares. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, October 8th. UBS Group started coverage on shares of Enbridge in a research report on Thursday, October 4th. They set a “buy” rating for the company. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $50.00 in a research report on Friday, August 17th. Morgan Stanley lifted their price objective on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Finally, ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $49.17.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 3rd. The pipeline company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.20. Enbridge had a net margin of 5.99% and a return on equity of 8.47%. The firm had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $9.86 billion. As a group, sell-side analysts forecast that Enbridge Inc will post 2.1 earnings per share for the current fiscal year.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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