Auto Owners Insurance Co Has $8.12 Million Holdings in Enbridge Inc $ENB

Auto Owners Insurance Co grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4,273.9% during the second quarter, HoldingsChannel.com reports. The firm owned 179,110 shares of the pipeline company’s stock after acquiring an additional 175,015 shares during the quarter. Auto Owners Insurance Co’s holdings in Enbridge were worth $8,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dagco Inc. acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC raised its position in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter worth $28,000. Accent Capital Management LLC bought a new stake in Enbridge during the first quarter worth $30,000. Finally, FNY Investment Advisers LLC bought a new stake in Enbridge during the second quarter worth $36,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENB. Argus upped their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Price Performance

Shares of NYSE:ENB opened at $47.12 on Wednesday. The company has a market cap of $102.75 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 4.35 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $48.45 and a 200 day simple moving average of $46.64. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the firm earned $0.58 EPS. Research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.