8,602 Shares in Enbridge Inc (ENB) Purchased by Ninepoint Partners LP
Ninepoint Partners LP bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,602 shares of the pipeline company’s stock, valued at approximately $312,000.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc lifted its holdings in shares of Enbridge by 2.5% during the third quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock worth $1,570,144,000 after purchasing an additional 1,184,467 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 4.1% during the fourth quarter. TD Asset Management Inc. now owns 44,948,053 shares of the pipeline company’s stock worth $1,395,700,000 after purchasing an additional 1,777,466 shares during the period. Jarislowsky Fraser Ltd lifted its holdings in shares of Enbridge by 0.5% during the fourth quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock worth $764,101,000 after purchasing an additional 131,550 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Enbridge by 4.1% during the first quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after purchasing an additional 895,305 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Enbridge by 13.6% during the fourth quarter. Mackenzie Financial Corp now owns 21,632,644 shares of the pipeline company’s stock worth $672,343,000 after purchasing an additional 2,584,814 shares during the period. Hedge funds and other institutional investors own 56.95% of the company’s stock.
In other Enbridge news, insider William T. Yardley sold 14,900 shares of Enbridge stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Albert Monaco purchased 7,806 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $49.33 per share, with a total value of $385,069.98. The disclosure for this purchase can be found here. 0.42% of the stock is owned by company insiders.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, equities analysts expect that Enbridge Inc will post 1.71 earnings per share for the current fiscal year.
A number of brokerages have recently commented on ENB. Credit Suisse Group lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Barclays began coverage on shares of Enbridge in a report on Tuesday, April 9th. They set an “overweight” rating on the stock. Industrial Alliance Securities reissued a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. ValuEngine downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, National Bank Financial raised shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.46.
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Enbridge Company Profile
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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