San Francisco Sentry Investment Group CA Purchases Shares of 3,986 Enbridge Inc (ENB)
San Francisco Sentry Investment Group CA purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,986 shares of the pipeline company’s stock, valued at approximately $159,000.
Several other institutional investors and hedge funds have also recently modified their holdings of ENB. Monroe Bank & Trust MI acquired a new position in Enbridge during the first quarter worth $105,000. NEXT Financial Group Inc boosted its stake in Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after buying an additional 411 shares during the last quarter. First Personal Financial Services boosted its stake in Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after buying an additional 397 shares during the last quarter. Welch Group LLC acquired a new position in Enbridge during the second quarter worth $121,000. Finally, Johnson Financial Group Inc. acquired a new position in Enbridge during the first quarter worth $171,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Enbridge Inc (ENB) opened at 41.32 on Friday. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.09. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 32.43 and a beta of 0.65. The stock has a 50 day moving average price of $40.82 and a 200 day moving average price of $40.56.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the business posted $0.50 EPS. Equities research analysts expect that Enbridge Inc will post $1.63 EPS for the current year.
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A number of equities analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Finally, Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.00.
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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