Nexus Investment Management buys $9,535,623 stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Nexus Investment Management scooped up 1,300 additional shares in Enbridge Inc (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 6, 2016. The investment management firm now holds a total of 230,775 shares of Enbridge Inc (USA) which is valued at $9,535,623.Enbridge Inc (USA) makes up approximately 1.79% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in ENB by selling 3,272 shares or 20.26% in the most recent quarter. The Hedge Fund company now holds 12,875 shares of ENB which is valued at $531,995.

Enbridge Inc (USA) opened for trading at $41.32 and hit $41.72 on the upside on Monday, eventually ending the session at $41.58, with a gain of 0.63% or 0.26 points. The heightened volatility saw the trading volume jump to 8,50,212 shares. Company has a market cap of $38,633 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.

Leave a Reply

Enbridge Inc (USA) - Is it time to Sell?

Top Brokerage Firms are advising their investors on Enbridge Inc (USA). Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.