Intact Investment Management Lowers stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Intact Investment Management reduced its stake in Enbridge Inc (USA) by 14.06% during the most recent quarter end. The investment management company now holds a total of 1,994,988 shares of Enbridge Inc (USA) which is valued at $79.7 Million after selling 326,400 shares in Enbridge Inc (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.Enbridge Inc (USA) makes up approximately 3.87% of Intact Investment Management’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies sold out all of its stake in ENB during the most recent quarter. The investment firm sold 403,569 shares of ENB which is valued $16.1 Million.Baird Financial Group boosted its stake in ENB in the latest quarter, The investment management firm added 354 additional shares and now holds a total of 7,012 shares of Enbridge Inc (USA) which is valued at $280,200.Raymond James Associates boosted its stake in ENB in the latest quarter, The investment management firm added 44,644 additional shares and now holds a total of 218,657 shares of Enbridge Inc (USA) which is valued at $8.7 Million. Enbridge Inc (USA) makes up approx 0.03% of Raymond James Associates’s portfolio.Taylor Asset Management Inc boosted its stake in ENB in the latest quarter, The investment management firm added 523,300 additional shares and now holds a total of 630,800 shares of Enbridge Inc (USA) which is valued at $25.2 Million. Enbridge Inc (USA) makes up approx 6.48% of Taylor Asset Management Inc’s portfolio.Meag Munich Ergo Kapitalanlagegesellschaft Mbh reduced its stake in ENB by selling 30,500 shares or 16.14% in the most recent quarter. The Hedge Fund company now holds 158,500 shares of ENB which is valued at $6.2 Million. Enbridge Inc (USA) makes up approx 0.32% of Meag Munich Ergo Kapitalanlagegesellschaft Mbh’s portfolio.

Enbridge Inc (USA) opened for trading at $40.56 and hit $41.06 on the upside on Wednesday, eventually ending the session at $40.91, with a gain of 1.54% or 0.62 points. The heightened volatility saw the trading volume jump to 7,36,436 shares. Company has a market cap of $38,010 M.

On the company’s financial health, Enbridge Inc (USA) reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.63. The company had revenue of $8795.00 million for the quarter, compared to analysts expectations of $12977.32 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines Processing and Energy Services; Sponsored Investments and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Company’s natural gas utility operations. Gas Pipelines Processing and Energy Services segment consists of investments in natural gas pipelines gathering and processing facilities and the Company’s energy services businesses along with renewable energy and transmission facilities. Sponsored Investments includes the Company’s 33.7% economic interest in Enbridge Energy Partners L.P. (EEP) and Enbridge’s interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

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