Hennessy Advisors INC Stake in Enbridge INC (ENB) Trimmed by $4.20 Million as Share Price Rose

September 16, 2018 - By Hazel Jackson

Enbridge Inc. (NYSE:ENB) Logo

Hennessy Advisors Inc decreased its stake in Enbridge Inc (ENB) by 7.06% based on its latest 2018Q2 regulatory filing with the SEC. Hennessy Advisors Inc sold 120,000 shares as the company’s stock rose 5.40% with the market. The institutional investor held 1.58 million shares of the natural gas distribution company at the end of 2018Q2, valued at $56.35 million, down from 1.70 million at the end of the previous reported quarter. Hennessy Advisors Inc who had been investing in Enbridge Inc for a number of months, seems to be less bullish one the $58.58B market cap company. The stock decreased 0.70% or $0.24 during the last trading session, reaching $33.89. About 1.80 million shares traded. Enbridge Inc. (NYSE:ENB) has declined 16.60% since September 16, 2017 and is downtrending. It has underperformed by 32.22% the S&P500.

Analysts await Enbridge Inc. (NYSE:ENB) to report earnings on November, 1. They expect $0.38 EPS, down 2.56 % or $0.01 from last year’s $0.39 per share. ENB’s profit will be $656.85M for 22.30 P/E if the $0.38 EPS becomes a reality. After $0.62 actual EPS reported by Enbridge Inc. for the previous quarter, Wall Street now forecasts -38.71 % negative EPS growth.

More notable recent Enbridge Inc. (NYSE:ENB) news were published by: Bizjournals.com which released: “Enbridge to acquire remainder of Spectra Energy Partners in $3.3B deal” on August 24, 2018, also Seekingalpha.com with their article: “Enbridge: Latest Earnings Show Growth Plan Playing Out” published on August 28, 2018, Bizjournals.com published: “Rough seas delay completion of cross-border pipeline” on September 13, 2018. More interesting news about Enbridge Inc. (NYSE:ENB) were released by: Seekingalpha.com and their article: “Why This High-Yield Company Will Deliver Attractive Returns” published on August 24, 2018 as well as Fool.com‘s news article titled: “Is Enbridge Energy Partners, LP a Buy?” with publication date: September 06, 2018.

Enbridge Inc. (NYSE:ENB) Ratings Coverage

Among 5 analysts covering Enbridge Inc Common Stock (NYSE:ENB), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Enbridge Inc Common Stock had 6 analyst reports since March 23, 2018 according to SRatingsIntel. BMO Capital Markets maintained it with “Outperform” rating and $59 target in Thursday, June 14 report. As per Friday, August 17, the company rating was upgraded by Bank of America. IBC maintained it with “Buy” rating and $5700 target in Tuesday, May 22 report. The company was maintained on Friday, March 23 by Morgan Stanley. The stock of Enbridge Inc. (NYSE:ENB) earned “Equal-Weight” rating by Morgan Stanley on Friday, July 13.

Enbridge Inc. (NYSE:ENB) Ratings Chart

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