OLD National Bancorp IN lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,961 shares of the pipeline company’s stock after selling 345 shares during the quarter. OLD National Bancorp IN’s holdings in Enbridge were worth $434,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kovack Advisors Inc. raised its position in shares of Enbridge by 3.4% during the 1st quarter. Kovack Advisors Inc. now owns 15,810 shares of the pipeline company’s stock valued at $573,000 after buying an additional 520 shares during the period. Goelzer Investment Management Inc. raised its position in Enbridge by 1.5% in the first quarter. Goelzer Investment Management Inc. now owns 358,108 shares of the pipeline company’s stock valued at $12,985,000 after purchasing an additional 5,246 shares during the period. Stokes Capital Advisors LLC raised its position in Enbridge by 1.8% in the first quarter. Stokes Capital Advisors LLC now owns 22,508 shares of the pipeline company’s stock valued at $816,000 after purchasing an additional 406 shares during the period. WealthTrust Axiom LLC purchased a new stake in Enbridge in the first quarter valued at approximately $211,000. Finally, Investment Partners LTD. raised its position in Enbridge by 9.1% in the first quarter. Investment Partners LTD. now owns 13,905 shares of the pipeline company’s stock valued at $504,000 after purchasing an additional 1,159 shares during the period. 56.95% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on ENB shares. Scotiabank lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 target price on the stock. in a research report on Monday, March 4th. Credit Suisse Group lowered Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Barclays started coverage on Enbridge in a research report on Tuesday, April 9th. They issued an “overweight” rating on the stock. Finally, Industrial Alliance Securities reissued a “buy” rating on shares of Enbridge in a research report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Enbridge currently has an average rating of “Buy” and an average target price of $46.46.

NYSE:ENB opened at $36.44 on Thursday. The firm has a market capitalization of $73.77 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.49. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $37.96.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 1.71 earnings per share for the current fiscal year.

In other Enbridge news, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the transaction, the insider now owns 94,770 shares in the company, valued at $3,504,594.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the completion of the transaction, the insider now owns 3,437 shares of the company’s stock, valued at approximately $127,237.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://theolympiareport.com/2019/05/16/old-national-bancorp-in-has-434000-stake-in-enbridge-inc-enb.html.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Featured Article: How to identify percentage decliners

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).

Institutional Ownership by Quarter for Enbridge (NYSE: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.