As Enbridge INC (ENB) Valuation Rose, Shareholder Hennessy Advisors INC Has Lowered by $4.20 Million Its Holding

September 16, 2018 - By Eugene Smith

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 $56.35M, down from 1.70M 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 1.80M 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, Seekingalpha.com published: “Why This High-Yield Company Will Deliver Attractive Returns” on August 24, 2018. More interesting news about Enbridge Inc. (NYSE:ENB) were released by: Fool.com and their article: “Is Enbridge Energy Partners, LP a Buy?” published on September 06, 2018 as well as Bizjournals.com‘s news article titled: “Rough seas delay completion of cross-border pipeline” with publication date: September 13, 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. The company was upgraded on Friday, August 17 by Bank of America. As per Friday, March 23, the company rating was maintained by Morgan Stanley. As per Thursday, June 14, the company rating was maintained by BMO Capital Markets. The firm has “Equal-Weight” rating by Morgan Stanley given on Friday, July 13. The stock of Enbridge Inc. (NYSE:ENB) has “Buy” rating given on Tuesday, May 22 by IBC.

Enbridge Inc. (NYSE:ENB) Ratings Chart

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