BlueCrest Capital Management Ltd Invests $1.13 Million in Enbridge Inc (ENB) Stock

BlueCrest Capital Management Ltd purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,825 shares of the pipeline company’s stock, valued at approximately $1,127,000.

Other institutional investors have also modified their holdings of the company. Spectrum Management Group Inc. bought a new stake in Enbridge in the third quarter worth about $113,000. Fieldpoint Private Securities LLC bought a new stake in Enbridge in the third quarter worth about $130,000. Valeo Financial Advisors LLC bought a new stake in Enbridge in the third quarter worth about $146,000. Taylor Hoffman Wealth Management bought a new stake in Enbridge in the fourth quarter worth about $140,000. Finally, Field & Main Bank bought a new stake in Enbridge in the fourth quarter worth about $149,000. Hedge funds and other institutional investors own 65.08% of the company’s stock.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Bank of America assumed coverage on Enbridge in a research note on Tuesday, January 9th. They issued a “neutral” rating on the stock. Morgan Stanley dropped their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $51.25.

In related news, Director Michael E. J. Phelps sold 18,054 shares of Enbridge stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total value of $613,836.00. Following the transaction, the director now owns 56,245 shares of the company’s stock, valued at approximately $1,912,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Enbridge Inc (ENB) opened at $32.66 on Tuesday. The firm has a market capitalization of $55,340.00, a PE ratio of 24.74, a P/E/G ratio of 2.32 and a beta of 0.65. Enbridge Inc has a 12 month low of $31.19 and a 12 month high of $42.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.63 and a quick ratio of 0.53.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. analysts expect that Enbridge Inc will post 1.77 earnings per share for the current fiscal year.

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Enbridge Profile

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.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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