Enbridge Inc (ENB) Shares Sold by BlueCrest Capital Management Ltd
BlueCrest Capital Management Ltd reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 80.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,040 shares of the pipeline company’s stock after selling 103,655 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Enbridge were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC purchased a new stake in Enbridge during the 2nd quarter valued at approximately $2,812,000. Sentry Investments Corp. grew its holdings in Enbridge by 422.2% during the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock valued at $156,409,000 after buying an additional 2,447,900 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in Enbridge during the 2nd quarter valued at approximately $7,992,000. Synovus Financial Corp grew its holdings in Enbridge by 3.1% during the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock valued at $8,718,000 after buying an additional 6,649 shares in the last quarter. Finally, Kidder Stephen W purchased a new stake in Enbridge during the 1st quarter valued at approximately $1,310,000. 61.58% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price objective (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $56.00.
Enbridge Inc (ENB) opened at 41.49 on Friday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09. The company has a 50 day moving average of $41.02 and a 200-day moving average of $40.57. The stock has a market capitalization of $68.28 billion, a price-to-earnings ratio of 32.57 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post $1.64 earnings per share for the current year.
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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