Enbridge Inc (ENB) Shares Bought by Prudential PLC
Prudential PLC lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,049 shares of the pipeline company’s stock after acquiring an additional 8,713 shares during the period. Prudential PLC’s holdings in Enbridge were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Csenge Advisory Group bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $28,000. Rockland Trust Co. bought a new stake in shares of Enbridge in the 4th quarter worth approximately $28,000. We Are One Seven LLC bought a new stake in shares of Enbridge in the 4th quarter worth approximately $28,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in shares of Enbridge in the 4th quarter worth approximately $31,000. 55.97% of the stock is owned by institutional investors.
In other news, insider Cynthia L. Hansen purchased 801 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average price of $43.93 per share, for a total transaction of $35,187.93. Following the completion of the acquisition, the insider now directly owns 105,423 shares of the company’s stock, valued at $4,631,232.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cynthia L. Hansen purchased 799 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $49.13 per share, for a total transaction of $39,254.87. Following the acquisition, the insider now directly owns 105,423 shares of the company’s stock, valued at $5,179,431.99. The disclosure for this purchase can be found here. Insiders have bought 9,406 shares of company stock worth $459,513 in the last 90 days. 0.48% of the stock is owned by company insiders.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The business had revenue of $8.75 billion for the quarter, compared to analyst estimates of $12.27 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 1.73 EPS for the current fiscal year.
A number of research firms recently commented on ENB. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, February 5th. Wolfe Research upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. Evercore ISI began coverage on shares of Enbridge in a report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Scotiabank downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. Finally, Macquarie began coverage on shares of Enbridge in a report on Thursday, January 24th. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Enbridge presently has a consensus rating of “Buy” and a consensus price target of $46.46.
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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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