Enbridge Inc (ENB) Shares Sold by Davis Rea Ltd.
Davis Rea Ltd. cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,217 shares of the pipeline company’s stock after selling 9,187 shares during the period. Enbridge accounts for 3.2% of Davis Rea Ltd.’s portfolio, making the stock its 13th biggest position. Davis Rea Ltd.’s holdings in Enbridge were worth $5,821,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in Enbridge by 122.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 18,522,957 shares of the pipeline company’s stock worth $724,433,000 after purchasing an additional 10,214,307 shares during the period. Advisory Research Inc. grew its stake in Enbridge by 2.2% in the fourth quarter. Advisory Research Inc. now owns 1,639,865 shares of the pipeline company’s stock worth $64,135,000 after purchasing an additional 35,740 shares during the period. Forsta AP Fonden purchased a new stake in Enbridge in the fourth quarter worth $43,767,000. Sei Investments Co. grew its stake in Enbridge by 15.3% in the fourth quarter. Sei Investments Co. now owns 220,992 shares of the pipeline company’s stock worth $8,643,000 after purchasing an additional 29,276 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in Enbridge by 5.2% in the fourth quarter. Catalyst Capital Advisors LLC now owns 154,709 shares of the pipeline company’s stock worth $6,051,000 after purchasing an additional 7,653 shares during the period. 62.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (ENB) opened at $35.03 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Enbridge Inc has a 12 month low of $33.26 and a 12 month high of $43.36. The firm has a market capitalization of $57,431.23, a price-to-earnings ratio of 22.03, a P/E/G ratio of 3.15 and a beta of 0.56.
Several brokerages recently weighed in on ENB. Morgan Stanley reduced their price target on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Bank of America began coverage on Enbridge in a research note on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.25.
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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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