Duff & Phelps Investment Management Co. lowered its position in Enbridge Inc. (NYSE:ENB) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833,021 shares of the company’s stock after selling 5,880 shares during the period. Enbridge accounts for about 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 26th largest position. Duff & Phelps Investment Management Co. owned about 0.20% of Enbridge worth $77,646,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Zions Bancorporation increased its stake in shares of Enbridge by 508.9% in the first quarter. Zions Bancorporation now owns 4,311 shares of the company’s stock worth $170,000 after buying an additional 3,603 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Enbridge during the second quarter worth $220,000. Jones Financial Companies Lllp increased its stake in shares of Enbridge by 7.9% in the first quarter. Jones Financial Companies Lllp now owns 11,382 shares of the company’s stock worth $443,000 after buying an additional 831 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Enbridge during the second quarter worth $940,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Enbridge by 142.6% in the first quarter. Envestnet Asset Management Inc. now owns 29,064 shares of the company’s stock worth $1,131,000 after buying an additional 17,085 shares during the last quarter. Hedge funds and other institutional investors own 66.79% of the company’s stock.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) traded up 0.70% during trading on Tuesday, hitting $44.32. 2,769,556 shares of the company’s stock traded hands. Enbridge Inc. has a 12 month low of $27.43 and a 12 month high of $45.77. The company’s 50 day moving average is $43.25 and its 200-day moving average is $41.51. The stock has a market cap of $41.41 billion, a P/E ratio of 40.40 and a beta of 0.63.

Enbridge (NYSE:ENB) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by $0.03. Enbridge had a net margin of 4.29% and a return on equity of 12.96%. During the same quarter in the prior year, the company earned $0.60 EPS. On average, analysts predict that Enbridge Inc. will post $1.77 earnings per share for the current year.

A number of analysts have weighed in on ENB shares. Goldman Sachs Group Inc. upgraded Enbridge from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $48.00 in a report on Wednesday, September 7th. TD Securities reiterated a “buy” rating and set a $59.00 price target (up from $58.00) on shares of Enbridge in a report on Wednesday, August 3rd. Canaccord Genuity reiterated a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Bank of America Corp. initiated coverage on Enbridge in a research note on Thursday, September 1st. They issued a “neutral” rating and a $56.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Enbridge presently has a consensus rating of “Buy” and an average target price of $56.50.

About Enbridge

Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.

5 Day Chart for NYSE:ENB

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