M&T Bank Corp Sells 5,517 Shares of Enbridge Inc (ENB)
M&T Bank Corp lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 368,060 shares of the pipeline company’s stock after selling 5,517 shares during the period. M&T Bank Corp’s holdings in Enbridge were worth $14,395,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new position in shares of Enbridge during the 3rd quarter valued at about $113,000. Fieldpoint Private Securities LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $130,000. Valeo Financial Advisors LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $146,000. Field & Main Bank purchased a new position in shares of Enbridge during the 4th quarter valued at about $149,000. Finally, Patten Group Inc. raised its stake in shares of Enbridge by 333.2% during the 3rd quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after buying an additional 12,116 shares during the last quarter. Institutional investors and hedge funds own 62.35% of the company’s stock.
Enbridge Inc (ENB) opened at $34.02 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Enbridge Inc has a 52 week low of $33.26 and a 52 week high of $43.46. The firm has a market capitalization of $56,257.14, a PE ratio of 21.40, a P/E/G ratio of 3.09 and a beta of 0.56.
A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday. Canaccord Genuity restated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Bank of America assumed coverage on Enbridge in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average price target of $51.25.
ILLEGAL ACTIVITY WARNING: This report was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://theolympiareport.com/2018/02/11/mt-bank-corp-sells-5517-shares-of-enbridge-inc-enb.html.
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.
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.