Cullen Frost Bankers Inc. decreased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 28,016 shares of the pipeline company’s stock after selling 313 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Enbridge were worth $983,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Nova Scotia Trust Co. increased its holdings in Enbridge by 12.5% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock valued at $22,555,000 after acquiring an additional 69,399 shares in the last quarter. NEXT Financial Group Inc increased its holdings in Enbridge by 67.6% during the 2nd quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock valued at $910,000 after acquiring an additional 10,170 shares in the last quarter. National Pension Service purchased a new position in Enbridge during the 2nd quarter valued at about $98,372,000. Lee Financial Group Hawaii Inc. purchased a new position in Enbridge during the 2nd quarter valued at about $784,000. Finally, Commonwealth Equity Services LLC increased its holdings in Enbridge by 3.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 435,376 shares of the pipeline company’s stock valued at $15,273,000 after acquiring an additional 14,542 shares in the last quarter. Hedge funds and other institutional investors own 54.21% of the company’s stock.
A number of brokerages have recently commented on ENB. Citigroup lifted their price target on shares of Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday. Goldman Sachs Group began coverage on shares of Enbridge in a report on Thursday, July 18th. They set a “neutral” rating for the company. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $52.00 to $51.00 in a report on Tuesday, October 15th. US Capital Advisors reiterated an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. Finally, CIBC lowered their price target on shares of Enbridge from $57.00 to $56.00 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average target price of $45.68.
Shares of NYSE ENB opened at $37.47 on Friday. The company has a market cap of $74.72 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.58. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The company has a 50-day simple moving average of $35.89 and a 200-day simple moving average of $35.48.
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.
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