Addenda Capital Inc. cut its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,688,412 shares of the pipeline company’s stock after selling 54,406 shares during the period. Enbridge comprises approximately 3.9% of Addenda Capital Inc.’s investment portfolio, making the stock its 5th biggest holding. Addenda Capital Inc. owned approximately 0.08% of Enbridge worth $89,351,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Advisors LLC acquired a new stake in shares of Enbridge in the third quarter valued at approximately $60,000. Advisors Asset Management Inc. increased its holdings in Enbridge by 9.7% during the third quarter. Advisors Asset Management Inc. now owns 114,371 shares of the pipeline company’s stock worth $4,243,000 after buying an additional 10,123 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Enbridge by 2.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 142,269 shares of the pipeline company’s stock worth $5,563,000 after buying an additional 2,994 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Enbridge during the third quarter worth $832,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in Enbridge by 62.8% during the third quarter. Ontario Teachers Pension Plan Board now owns 25,382 shares of the pipeline company’s stock worth $940,000 after buying an additional 9,793 shares during the last quarter. 49.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Credit Suisse Group downgraded shares of Enbridge from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 8th. BMO Capital Markets cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 24th. National Bank Financial lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research report on Friday, January 27th. Finally, StockNews.com started coverage on shares of Enbridge in a research report on Thursday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.00.
Enbridge Trading Down 1.5 %
Shares of Enbridge stock opened at $36.00 on Monday. The firm has a 50-day moving average of $39.64 and a 200-day moving average of $39.52. The stock has a market cap of $72.90 billion, a PE ratio of 36.20, a PEG ratio of 2.68 and a beta of 0.83. Enbridge Inc. has a 52-week low of $35.02 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.49 and a current ratio of 0.60.
Enbridge Profile
Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.