Laurion Capital Management LP Continues to Hold Stake in Enbridge Inc (ENB)
Laurion Capital Management LP continued to hold its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,707 shares of the pipeline company’s stock at the end of the second quarter. Laurion Capital Management LP’s holdings in Enbridge were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Enbridge by 1,072.3% in the 1st quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after buying an additional 28,125,698 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after purchasing an additional 17,671,076 shares during the last quarter. State Street Corp bought a new stake in shares of Enbridge in the first quarter worth about $478,509,000. FMR LLC increased its holdings in shares of Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock worth $1,444,626,000 after purchasing an additional 8,072,511 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Enbridge by 100,060.8% in the first quarter. Clearbridge Investments LLC now owns 7,813,542 shares of the pipeline company’s stock worth $326,919,000 after purchasing an additional 7,805,741 shares during the last quarter. Institutional investors and hedge funds own 61.58% of the company’s stock.
Shares of Enbridge Inc (ENB) opened at 41.97 on Wednesday. The stock has a market capitalization of $69.07 billion, a P/E ratio of 32.94 and a beta of 0.65. The company’s 50-day moving average is $40.62 and its 200-day moving average is $40.54. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter last year, the business posted $0.50 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post $1.64 earnings per share for the current year.
ENB has been the topic of several research reports. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price objective (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Enbridge has an average rating of “Hold” and an average target price of $54.67.
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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