Jarislowsky Fraser Ltd Lowers stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Jarislowsky Fraser Ltd reduced its stake in Enbridge Inc (USA) by 0.99% during the most recent quarter end. The investment management company now holds a total of 15,043,127 shares of Enbridge Inc (USA) which is valued at $629,254,002 after selling 150,568 shares in Enbridge Inc (USA) , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Enbridge Inc (USA) makes up approximately 4.45% of Jarislowsky Fraser Ltd’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd added ENB to its portfolio by purchasing 64,300 company shares during the most recent quarter which is valued at $2,689,669. Enbridge Inc (USA) makes up approx 0.19% of Quadrature Capital Ltd’s portfolio.I.g. Investment Management Ltd. boosted its stake in ENB in the latest quarter, The investment management firm added 167,876 additional shares and now holds a total of 11,336,891 shares of Enbridge Inc (USA) which is valued at $468,326,967. Enbridge Inc (USA) makes up approx 1.80% of I.g. Investment Management Ltd.’s portfolio.Torray reduced its stake in ENB by selling 390,841 shares or 34.04% in the most recent quarter. The Hedge Fund company now holds 757,372 shares of ENB which is valued at $31,287,037. Enbridge Inc (USA) makes up approx 2.26% of Torray’s portfolio. Payden Rygel sold out all of its stake in ENB during the most recent quarter. The investment firm sold 105 shares of ENB which is valued $4,338.1st Global Advisors reduced its stake in ENB by selling 248 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 16,132 shares of ENB which is valued at $648,022. Enbridge Inc (USA) makes up approx 0.09% of 1st Global Advisors’s portfolio.

Enbridge Inc (USA) opened for trading at $41.12 and hit $41.62 on the upside on Tuesday, eventually ending the session at $41.52, with a gain of 1.34% or 0.55 points. The heightened volatility saw the trading volume jump to 14,66,011 shares. Company has a market cap of $38,789 M.

On the company’s financial health, Enbridge Inc (USA) reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus estimate of $0.50.Analysts expectations of $ 8129.86.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Enbridge Inc (USA). Enbridge Inc (USA) was Downgraded by Goldman to ” Neutral” on Jul 20, 2016. Enbridge Inc (USA) was Downgraded by National Bank Financial to ” Sector Perform” on Jul 18, 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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