Summit X LLC Acquires 10,236 Shares of Enbridge Inc (ENB)

Summit X LLC lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 64.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,189 shares of the pipeline company’s stock after purchasing an additional 10,236 shares during the period. Summit X LLC’s holdings in Enbridge were worth $866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HighPoint Advisor Group LLC grew its stake in shares of Enbridge by 21.4% in the 2nd quarter. HighPoint Advisor Group LLC now owns 8,094 shares of the pipeline company’s stock worth $282,000 after purchasing an additional 1,427 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Enbridge by 1.3% in the 2nd quarter. Tealwood Asset Management Inc. now owns 118,062 shares of the pipeline company’s stock worth $4,214,000 after purchasing an additional 1,502 shares during the last quarter. Parsec Financial Management Inc. grew its stake in shares of Enbridge by 12.7% in the 2nd quarter. Parsec Financial Management Inc. now owns 13,402 shares of the pipeline company’s stock worth $478,000 after purchasing an additional 1,506 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Enbridge by 4.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 35,496 shares of the pipeline company’s stock worth $1,270,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Fieldpoint Private Securities LLC grew its stake in shares of Enbridge by 12.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 14,480 shares of the pipeline company’s stock worth $517,000 after purchasing an additional 1,550 shares during the last quarter. 58.35% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on ENB shares. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Morgan Stanley lifted their target price on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Citigroup reissued a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $50.00 in a research report on Friday, August 17th. Finally, UBS Group initiated coverage on shares of Enbridge in a research report on Thursday, October 4th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $49.17.

Enbridge stock opened at $31.42 on Friday. The company has a market capitalization of $54.18 billion, a PE ratio of 20.40, a PEG ratio of 1.20 and a beta of 0.53. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 0.99. Enbridge Inc has a fifty-two week low of $29.00 and a fifty-two week high of $41.21.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.28 billion. Enbridge had a net margin of 5.99% and a return on equity of 8.47%. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts predict that Enbridge Inc will post 2.22 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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