Wealth Advisors of Tampa Bay LLC bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,585 shares of the pipeline company’s stock, valued at approximately $743,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Financial Inc. purchased a new stake in shares of Enbridge during the second quarter worth about $25,000. Krueger & Catalano Capital Partners LLC grew its holdings in shares of Enbridge by 4.4% during the second quarter. Krueger & Catalano Capital Partners LLC now owns 28,687 shares of the pipeline company’s stock worth $1,035,000 after buying an additional 1,220 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Enbridge by 69.2% during the second quarter. AE Wealth Management LLC now owns 79,631 shares of the pipeline company’s stock worth $2,873,000 after buying an additional 32,567 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Enbridge by 14.5% during the second quarter. Flagship Harbor Advisors LLC now owns 9,519 shares of the pipeline company’s stock worth $343,000 after buying an additional 1,207 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Enbridge during the second quarter worth about $265,000. Institutional investors own 55.12% of the company’s stock.
ENB has been the subject of a number of recent research reports. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a report on Monday, April 8th. Goldman Sachs Group assumed coverage on shares of Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating on the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price on the stock. in a research report on Thursday, June 13th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $32.00 target price on shares of CRH in a research report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.75.
In other Enbridge news, insider Albert Monaco purchased 7,848 shares of Enbridge stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $49.81 per share, with a total value of $390,908.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.42% of the company’s stock.
Shares of ENB traded up $0.04 during mid-day trading on Friday, hitting $33.60. The company had a trading volume of 3,354,313 shares, compared to its average volume of 3,401,483. The business has a 50-day moving average of $35.57. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 0.92. Enbridge Inc has a 1-year low of $28.82 and a 1-year high of $38.04. The company has a market cap of $68.18 billion, a PE ratio of 16.39, a PEG ratio of 2.75 and a beta of 0.58.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts forecast that Enbridge Inc will post 1.89 earnings per share for the current year.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.
Further Reading: Range Trading
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.