Garner Asset Management Corp decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 41.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,436 shares of the pipeline company’s stock after selling 8,006 shares during the period. Garner Asset Management Corp’s holdings in Enbridge were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of ENB. Parkside Financial Bank & Trust raised its stake in shares of Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Front Row Advisors LLC lifted its holdings in Enbridge by 3,985.7% in the fourth quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 837 shares during the last quarter. Csenge Advisory Group acquired a new position in Enbridge in the third quarter valued at approximately $28,000. Rockland Trust Co. acquired a new position in Enbridge in the fourth quarter valued at approximately $28,000. Finally, We Are One Seven LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $28,000. Institutional investors own 56.43% of the company’s stock.
Enbridge stock traded up $0.34 during midday trading on Tuesday, hitting $37.67. 2,629,798 shares of the stock were exchanged, compared to its average volume of 3,605,391. The company has a market capitalization of $75.20 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $37.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.58 and a quick ratio of 0.49.
ENB has been the topic of a number of research analyst reports. CIBC reissued a “buy” rating and issued a $57.00 target price on shares of Enbridge in a research report on Tuesday, January 15th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Wells Fargo & Co restated a “buy” rating on shares of Enbridge in a research note on Monday, February 18th. Finally, Bank of America reiterated a “buy” rating on shares of Enbridge in a research note on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.46.
In other news, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the sale, the insider now owns 94,770 shares in the company, valued at $3,504,594.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Albert Monaco purchased 7,806 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $49.33 per share, for a total transaction of $385,069.98. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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