Private Advisor Group LLC Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Posted by Defense World Staff on Mar 28th, 2023

Private Advisor Group LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,392 shares of the pipeline company’s stock after selling 5,275 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge were worth $867,127,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ENB. Pin Oak Investment Advisors Inc. increased its holdings in shares of Enbridge by 434.8% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 615 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Burleson & Company LLC boosted its holdings in Enbridge by 428.6% during the third quarter. Burleson & Company LLC now owns 740 shares of the pipeline company’s stock worth $27,000 after buying an additional 600 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Enbridge during the third quarter valued at $29,000. TFC Financial Management purchased a new position in Enbridge in the third quarter valued at $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Enbridge in the third quarter worth about $32,000. 49.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. Credit Suisse Group cut Enbridge from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 8th. StockNews.com initiated coverage on Enbridge in a research note on Thursday, March 16th. They set a “hold” rating for the company. BMO Capital Markets cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. Finally, National Bank Financial boosted their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.00.

Enbridge Stock Up 0.2 %

NYSE ENB opened at $36.82 on Tuesday. The business has a fifty day moving average price of $39.08 and a 200 day moving average price of $39.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.49 and a current ratio of 0.60. The company has a market cap of $74.56 billion, a P/E ratio of 36.46, a P/E/G ratio of 2.69 and a beta of 0.83. Enbridge Inc. has a one year low of $35.02 and a one year high of $47.67.

Enbridge Profile

(Get Rating)

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.

Private Advisor Group LLC Lowers Holdings in Enbridge Inc. (NYSE:ENB)

Analysts Set New Price Targets

Enbridge Stock Up 0.2 %

Enbridge Profile

Recommended Stories

You might be interested in: