Baskin Financial Services Inc. reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,502 shares of the pipeline company’s stock after selling 59 shares during the period. Baskin Financial Services Inc.’s holdings in Enbridge were worth $219,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of ENB. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Enbridge by 0.3% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,722 shares of the pipeline company’s stock worth $745,000 after buying an additional 64 shares during the last quarter. Family Legacy Inc. increased its stake in Enbridge by 1.2% in the second quarter. Family Legacy Inc. now owns 5,781 shares of the pipeline company’s stock worth $230,000 after buying an additional 68 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Enbridge by 0.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 35,126 shares of the pipeline company’s stock worth $1,470,000 after buying an additional 126 shares during the last quarter. Capital Asset Advisory Services LLC increased its stake in Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock worth $282,000 after buying an additional 143 shares during the last quarter. Finally, Bluestein R H & Co. increased its stake in Enbridge by 1.3% in the first quarter. Bluestein R H & Co. now owns 15,196 shares of the pipeline company’s stock worth $636,000 after buying an additional 196 shares during the last quarter. 63.31% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc (ENB) traded up 0.63% during midday trading on Monday, reaching $41.36. 764,705 shares of the company’s stock traded hands. The company’s 50-day moving average price is $39.89 and its 200 day moving average price is $41.10. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77. The stock has a market capitalization of $67.78 billion, a price-to-earnings ratio of 43.31 and a beta of 0.61.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Wolfe Research assumed coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.00.
About Enbridge
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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