Procyon Advisors LLC grew its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,366 shares of the pipeline company’s stock after purchasing an additional 2,180 shares during the quarter. Procyon Advisors LLC’s holdings in Enbridge were worth $992,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Guardian Wealth Advisors LLC acquired a new stake in Enbridge during the third quarter worth approximately $60,000. Advisors Asset Management Inc. boosted its position 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 acquiring an additional 10,123 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 acquiring an additional 2,994 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in Enbridge during the third quarter worth approximately $832,000. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of Enbridge by 62.8% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 25,382 shares of the pipeline company’s stock valued at $940,000 after purchasing an additional 9,793 shares during the last quarter. 49.25% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on ENB shares. Credit Suisse Group lowered shares of Enbridge from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 8th. National Bank Financial lifted their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Friday, January 27th. BMO Capital Markets downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. Finally, StockNews.com started coverage on shares of Enbridge in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $59.00.
Enbridge Stock Performance
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.
Further Reading
- Get a free copy of the StockNews.com research report on Enbridge (ENB)
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