M&T Bank Corp Has $29.46 Million Stock Holdings in Enbridge Inc $ENB

M&T Bank Corp lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,828 shares of the pipeline company’s stock after purchasing an additional 26,975 shares during the period. M&T Bank Corp’s holdings in Enbridge were worth $29,459,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Tsfg LLC lifted its stake in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the period. Highline Wealth Partners LLC grew its position in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares during the period. True Wealth Design LLC grew its position in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the period. Financial Gravity Companies Inc. bought a new stake in shares of Enbridge in the 2nd quarter valued at $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

Shares of ENB stock opened at $54.09 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The firm has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $48.80. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.42. The firm has a market capitalization of $118.02 billion, a PE ratio of 23.52 and a beta of 0.67.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period last year, the firm earned $0.75 earnings per share. Analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.