Corient Capital Partners LLC Buys Shares of 112,427 Enbridge Inc (ENB)
Corient Capital Partners LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel.com reports. The firm bought 112,427 shares of the pipeline company’s stock, valued at approximately $4,397,000. Enbridge accounts for about 0.7% of Corient Capital Partners LLC’s portfolio, making the stock its 27th biggest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Spectrum Management Group Inc. purchased a new stake in Enbridge during the 3rd quarter valued at $113,000. Fieldpoint Private Securities LLC purchased a new stake in Enbridge during the 3rd quarter valued at $130,000. Valeo Financial Advisors LLC purchased a new stake in Enbridge during the 3rd quarter valued at $146,000. Taylor Hoffman Wealth Management bought a new position in shares of Enbridge during the 4th quarter valued at $140,000. Finally, Field & Main Bank bought a new position in shares of Enbridge during the 4th quarter valued at $149,000. Institutional investors and hedge funds own 64.78% of the company’s stock.
Several equities analysts have recently weighed in on ENB shares. Bank of America started coverage on Enbridge in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Morgan Stanley lowered their price target on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $54.00 price target on shares of Enbridge in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Enbridge has an average rating of “Hold” and an average target price of $51.25.
In other news, Director Michael E. J. Phelps sold 18,054 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total transaction of $613,836.00. Following the transaction, the director now directly owns 56,245 shares of the company’s stock, valued at approximately $1,912,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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