IFP Advisors Inc Raises Holdings in Enbridge Inc (ENB)
IFP Advisors Inc boosted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 100,194 shares of the pipeline company’s stock after acquiring an additional 12,100 shares during the quarter. IFP Advisors Inc’s holdings in Enbridge were worth $4,192,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Monroe Bank & Trust MI acquired a new stake in Enbridge during the 1st quarter worth about $105,000. NEXT Financial Group Inc lifted its position in Enbridge by 17.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 411 shares during the period. First Personal Financial Services lifted its position in Enbridge by 16.4% during the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after acquiring an additional 397 shares during the period. Welch Group LLC acquired a new stake in Enbridge during the 2nd quarter worth about $121,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Enbridge during the 2nd quarter worth about $159,000. 61.64% of the stock is owned by institutional investors.
A number of analysts have commented on ENB shares. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday. GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub cut Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price target (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Enbridge has a consensus rating of “Hold” and a consensus price target of $56.00.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter last year, the company earned $0.47 EPS.
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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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