HighPoint Advisor Group LLC Has $313,000 Holdings in Enbridge Inc (ENB)
HighPoint Advisor Group LLC continued to hold its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,532 shares of the pipeline company’s stock at the end of the second quarter. HighPoint Advisor Group LLC’s holdings in Enbridge were worth $313,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. CGOV Asset Management boosted its holdings in Enbridge by 49.1% during the 1st quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock worth $60,927,000 after acquiring an additional 360,225 shares during the last quarter. United States Steel & Carnegie Pension Fund raised its stake in shares of Enbridge by 27.0% during the 1st quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock worth $68,949,000 after purchasing an additional 350,450 shares during the period. Infrastructure Capital Advisors LLC bought a new stake in shares of Enbridge during the 1st quarter worth $805,000. Lee Financial Co raised its stake in shares of Enbridge by 27.1% during the 1st quarter. Lee Financial Co now owns 24,455 shares of the pipeline company’s stock worth $1,023,000 after purchasing an additional 5,215 shares during the period. Finally, Beacon Trust Co. raised its stake in shares of Enbridge by 527.0% during the 1st quarter. Beacon Trust Co. now owns 78,999 shares of the pipeline company’s stock worth $3,306,000 after purchasing an additional 66,399 shares during the period. 61.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (NYSE ENB) remained flat at $41.49 during midday trading on Friday. 1,179,352 shares of the stock were exchanged. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.09. The stock’s 50-day moving average price is $41.02 and its 200 day moving average price is $40.57. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of 32.57 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same period in the previous year, the business posted $0.50 earnings per share. Equities analysts forecast that Enbridge Inc will post $1.64 EPS for the current fiscal year.
ENB has been the topic of a number of recent analyst reports. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 target price (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.00.
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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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