Enbridge Inc (ENB) Shares Bought by Bailard Inc.
Bailard Inc. grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,351 shares of the pipeline company’s stock after purchasing an additional 1,213 shares during the quarter. Bailard Inc.’s holdings in Enbridge were worth $477,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Capital International Investors grew its position in shares of Enbridge by 74.4% in the third quarter. Capital International Investors now owns 101,014,233 shares of the pipeline company’s stock valued at $3,260,806,000 after purchasing an additional 43,094,629 shares during the period. FIL Ltd grew its position in shares of Enbridge by 21.5% in the third quarter. FIL Ltd now owns 18,581,538 shares of the pipeline company’s stock valued at $599,604,000 after purchasing an additional 3,285,628 shares during the period. JPMorgan Chase & Co. grew its position in shares of Enbridge by 271.9% in the third quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock valued at $79,350,000 after purchasing an additional 1,796,637 shares during the period. TD Asset Management Inc. grew its position in shares of Enbridge by 4.1% in the fourth quarter. TD Asset Management Inc. now owns 44,948,053 shares of the pipeline company’s stock valued at $1,395,700,000 after purchasing an additional 1,777,466 shares during the period. Finally, First Manhattan Co. grew its position in shares of Enbridge by 426.3% in the fourth quarter. First Manhattan Co. now owns 2,180,133 shares of the pipeline company’s stock valued at $67,758,000 after purchasing an additional 1,765,894 shares during the period. Institutional investors and hedge funds own 49.65% of the company’s stock.
NYSE:ENB opened at $35.67 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $72.46 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $37.69.
In other news, insider Byron C. Neiles sold 64,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $43.10, for a total value of $2,758,400.00. Following the transaction, the insider now directly owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Albert Monaco purchased 7,569 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was acquired at an average cost of $43.82 per share, for a total transaction of $331,673.58. Following the completion of the purchase, the insider now owns 67,329 shares of the company’s stock, valued at approximately $2,950,356.78. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
Several analysts have recently issued reports on ENB shares. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. UBS Group lowered shares of Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. ValuEngine lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday. CIBC reissued a “buy” rating and issued a $57.00 price target on shares of Enbridge in a research note on Tuesday, January 15th. Finally, Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $48.80.
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Enbridge Company Profile
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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