Jones Financial Companies Lllp Sells 5,817 Shares of Enbridge Inc (ENB)
Jones Financial Companies Lllp lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,726 shares of the pipeline company’s stock after selling 5,817 shares during the period. Jones Financial Companies Lllp’s holdings in Enbridge were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spectrum Management Group Inc. bought a new position in shares of Enbridge during the third quarter worth approximately $113,000. Fieldpoint Private Securities LLC bought a new position in shares of Enbridge during the third quarter worth approximately $130,000. Taylor Hoffman Wealth Management bought a new position in shares of Enbridge during the fourth quarter worth approximately $140,000. Valeo Financial Advisors LLC bought a new position in shares of Enbridge during the third quarter worth approximately $146,000. Finally, Field & Main Bank bought a new position in shares of Enbridge during the fourth quarter worth approximately $149,000. Institutional investors own 65.08% of the company’s stock.
A number of equities research analysts recently issued reports on ENB shares. Morgan Stanley reduced their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Canaccord Genuity reissued a “buy” rating and set a $54.00 price target on shares of Enbridge in a research report on Thursday, November 30th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Finally, Bank of America started coverage on Enbridge in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $51.25.
Shares of Enbridge Inc (NYSE:ENB) opened at $32.66 on Tuesday. The stock has a market capitalization of $54,263.03, a P/E ratio of 20.01, a P/E/G ratio of 2.32 and a beta of 0.66. Enbridge Inc has a 12-month low of $31.19 and a 12-month high of $42.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.63.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. analysts forecast that Enbridge Inc will post 1.77 EPS for the current fiscal year.
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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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