Enbridge Inc (ENB) Shares Sold by HPM Partners LLC
HPM Partners LLC trimmed its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 35.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,420 shares of the pipeline company’s stock after selling 3,455 shares during the quarter. HPM Partners LLC’s holdings in Enbridge were worth $229,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cozad Asset Management Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $1,893,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Enbridge by 19.3% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 95,759 shares of the pipeline company’s stock worth $3,421,000 after acquiring an additional 15,514 shares during the period. Centaurus Financial Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $191,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake 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 acquiring an additional 225,600 shares during the period. Finally, AE Wealth Management LLC bought a new position in shares of Enbridge during the 2nd quarter worth approximately $702,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.
Several brokerages have recently commented on ENB. Morgan Stanley lifted their target price on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, October 8th. UBS Group assumed coverage on Enbridge in a report on Thursday, October 4th. They set a “buy” rating for the company. Finally, Citigroup reissued a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.17.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 3rd. The pipeline company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.20. The business had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $9.86 billion. Enbridge had a return on equity of 8.47% and a net margin of 5.99%. As a group, sell-side analysts forecast that Enbridge Inc will post 2.1 EPS for the current year.
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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