Liberty Mutual Group Asset Management Inc. raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 124.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 139,422 shares of the pipeline company’s stock after buying an additional 77,236 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Enbridge were worth $5,834,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Enbridge by 145.1% in the first quarter. Geode Capital Management LLC now owns 1,043,180 shares of the pipeline company’s stock valued at $43,489,000 after buying an additional 617,534 shares during the period. Azimuth Capital Management LLC acquired a new stake in shares of Enbridge during the first quarter valued at approximately $1,405,000. Bluestein R H & Co. boosted its stake in shares of Enbridge by 1.3% in the first quarter. Bluestein R H & Co. now owns 15,196 shares of the pipeline company’s stock valued at $636,000 after buying an additional 196 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Enbridge by 1,654.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 145,866 shares of the pipeline company’s stock valued at $6,103,000 after buying an additional 137,553 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock valued at $1,631,051,000 after buying an additional 17,671,076 shares during the period. 63.24% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc (NYSE:ENB) traded down 0.19% during trading on Monday, reaching $41.73. The company’s stock had a trading volume of 1,323,529 shares. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77. The company has a market cap of $68.39 billion, a P/E ratio of 43.88 and a beta of 0.61. The company’s 50 day moving average price is $39.61 and its 200 day moving average price is $41.13.
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Several analysts have recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Wolfe Research initiated coverage on Enbridge in a report on Friday, May 12th. They set a “market perform” rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and a consensus price target of $54.00.
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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