Viking Fund Management LLC continued to hold its stake in shares of Enbridge Inc. (NYSE:ENB) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 310,000 shares of the company’s stock at the end of the third quarter. Enbridge comprises about 2.2% of Viking Fund Management LLC’s holdings, making the stock its 18th largest position. Viking Fund Management LLC’s holdings in Enbridge were worth $13,711,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in Enbridge by 0.6% in the second quarter. AQR Capital Management LLC now owns 21,809 shares of the company’s stock worth $919,000 after buying an additional 127 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Enbridge by 1.8% in the second quarter. Oppenheimer & Co. Inc. now owns 7,996 shares of the company’s stock worth $339,000 after buying an additional 145 shares during the last quarter. Creative Planning increased its position in Enbridge by 1.6% in the third quarter. Creative Planning now owns 11,122 shares of the company’s stock worth $492,000 after buying an additional 174 shares during the last quarter. Blue Fin Capital Inc. increased its position in Enbridge by 0.9% in the second quarter. Blue Fin Capital Inc. now owns 33,190 shares of the company’s stock worth $1,406,000 after buying an additional 300 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Enbridge by 1.7% in the second quarter. Wetherby Asset Management Inc. now owns 18,098 shares of the company’s stock worth $767,000 after buying an additional 308 shares during the last quarter. 66.77% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Inc. (NYSE:ENB) traded up 1.46% on Thursday, hitting $44.33. 1,191,457 shares of the company were exchanged. The stock’s 50-day moving average price is $42.92 and its 200-day moving average price is $41.36. Enbridge Inc. has a 52-week low of $27.43 and a 52-week high of $45.77. The stock has a market capitalization of $41.41 billion, a P/E ratio of 40.41 and a beta of 0.64.
Enbridge (NYSE:ENB) last released its earnings results on Friday, July 29th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. Enbridge had a return on equity of 12.96% and a net margin of 4.29%. During the same period in the prior year, the company posted $0.60 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post $1.77 earnings per share for the current fiscal year.
ENB has been the topic of a number of research reports. Scotiabank reissued an “outperform” rating and issued a $61.00 price objective on shares of Enbridge in a report on Friday, September 9th. Bank of America Corp. initiated coverage on shares of Enbridge in a research note on Thursday, September 1st. They set a “neutral” rating and a $56.00 target price on the stock. RBC Capital Markets restated an “outperform” rating on shares of Enbridge in a research note on Sunday, September 4th. Canaccord Genuity restated a “buy” rating on shares of Enbridge in a research note on Sunday, September 4th. Finally, Goldman Sachs Group Inc. upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and raised their target price for the stock from $43.00 to $48.00 in a research note on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.50.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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