Enbridge Inc $ENB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,614 shares of the pipeline company’s stock after selling 26,495 shares during the quarter. ProShare Advisors LLC’s holdings in Enbridge were worth $9,325,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG acquired a new stake in shares of Enbridge in the second quarter valued at about $1,850,502,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Enbridge in the second quarter worth approximately $467,782,000. Bank of New York Mellon Corp acquired a new position in shares of Enbridge in the second quarter worth approximately $412,627,000. Bank of America Corp DE acquired a new position in shares of Enbridge in the second quarter worth approximately $380,896,000. Finally, BlackRock Inc. bought a new stake in Enbridge in the second quarter valued at approximately $183,623,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $48.94 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The business has a 50-day moving average price of $48.23 and a two-hundred day moving average price of $52.17. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The company has a market cap of $109.07 billion, a P/E ratio of 26.17, a PEG ratio of 5.91 and a beta of 0.59.

Analyst Ratings Changes

A number of analysts have weighed in on ENB shares. Royal Bank Of Canada increased their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a report on Monday, September 14th. National Bank Financial upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. The Goldman Sachs Group assumed coverage on shares of Enbridge in a research note on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Enbridge in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $65.88.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.