Davis-rea Ltd. Lowers stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Davis-rea Ltd. reduced its stake in Enbridge Inc (USA) by 28.05% during the most recent quarter end. The investment management company now holds a total of 189,840 shares of Enbridge Inc (USA) which is valued at $7,885,954 after selling 74,010 shares in Enbridge Inc (USA) , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Enbridge Inc (USA) makes up approximately 5.30% of Davis-rea Ltd.’s portfolio.

Enbridge Inc (USA) closed down -0.21 points or -0.51% at $41.33 with 9,34,765 shares getting traded on Monday. Post opening the session at $41.35, the shares hit an intraday low of $41.07 and an intraday high of $41.51 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Huntington National Bank boosted its stake in ENB in the latest quarter, The investment management firm added 171 additional shares and now holds a total of 2,431 shares of Enbridge Inc (USA) which is valued at $100,984. Wright Investors Service Inc added ENB to its portfolio by purchasing 11,350 company shares during the most recent quarter which is valued at $471,479. Enbridge Inc (USA) makes up approx 0.19% of Wright Investors Service Inc’s portfolio. Lebenthal Holdingsllc sold out all of its stake in ENB during the most recent quarter. The investment firm sold 24,191 shares of ENB which is valued $1,028,118.Dorchester Wealth Management Co boosted its stake in ENB in the latest quarter, The investment management firm added 55,325 additional shares and now holds a total of 104,525 shares of Enbridge Inc (USA) which is valued at $4,442,313. Enbridge Inc (USA) makes up approx 1.63% of Dorchester Wealth Management Co’s portfolio.1st Global Advisors boosted its stake in ENB in the latest quarter, The investment management firm added 6,137 additional shares and now holds a total of 16,380 shares of Enbridge Inc (USA) which is valued at $663,554. Enbridge Inc (USA) makes up approx 0.09% of 1st Global Advisors’s portfolio.

On the company’s financial health, Enbridge Inc (USA) reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 19, 2016. Analyst had a consensus of $0.52. The company had revenue of $8914.00 million for the quarter, compared to analysts expectations of $8792.64 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Enbridge Inc (USA). Enbridge Inc (USA) was Downgraded by Credit Suisse to ” Neutral” on Feb 4, 2016.

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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