Beacon Pointe Advisors LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 75.0% in the second quarter, Holdings Channel reports. The institutional investor owned 42,214 shares of the pipeline company’s stock after selling 126,973 shares during the period. Beacon Pointe Advisors LLC’s holdings in Enbridge were worth $1,784,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ENB. Financial Connections Group Inc. boosted its stake in shares of Enbridge by 136.4% in the second quarter. Financial Connections Group Inc. now owns 624 shares of the pipeline company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. Hallmark Capital Management Inc. acquired a new stake in shares of Enbridge in the second quarter valued at about $32,000. Tcwp LLC purchased a new stake in Enbridge during the first quarter worth about $37,000. Meeder Asset Management Inc. purchased a new position in Enbridge in the first quarter valued at about $41,000. Finally, Core Alternative Capital acquired a new stake in shares of Enbridge during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 49.26% of the company’s stock.
Enbridge Trading Up 1.1 %
Shares of ENB opened at $41.45 on Thursday. Enbridge Inc. has a fifty-two week low of $35.02 and a fifty-two week high of $47.67. The company has a market capitalization of $83.93 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 3.21 and a beta of 0.80. The stock has a fifty day moving average of $38.91 and a two-hundred day moving average of $41.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.60.
Wall Street Analysts Forecast Growth
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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