Enbridge Inc (ENB) Position Boosted by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 76.2% during the first quarter, Holdings Channel reports. The institutional investor owned 118,069 shares of the pipeline company’s stock after buying an additional 51,069 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Enbridge were worth $4,940,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. First Personal Financial Services acquired a new position in Enbridge during the first quarter valued at approximately $102,000. Financial Architects Inc boosted its position in Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares during the period. Monroe Bank & Trust MI acquired a new position in Enbridge during the first quarter valued at approximately $105,000. Kistler Tiffany Companies LLC acquired a new position in Enbridge during the first quarter valued at approximately $109,000. Finally, Mascoma Wealth Management LLC acquired a new position in Enbridge during the first quarter valued at approximately $111,000. Institutional investors own 62.95% of the company’s stock.
Shares of Enbridge Inc (ENB) opened at 40.85 on Monday. The company has a 50-day moving average price of $39.09 and a 200 day moving average price of $41.37. The company has a market capitalization of $66.95 billion, a price-to-earnings ratio of 44.16 and a beta of 0.61. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77.
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Several research analysts recently commented on ENB shares. Wells Fargo & Company reiterated a “market perform” rating on shares of Enbridge in a research note on Friday, March 31st. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Morgan Stanley started coverage on Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Wolfe Research started coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Enbridge presently has an average rating of “Hold” and a consensus target price of $54.00.
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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