Public Sector Pension Investment Board Lowers stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Public Sector Pension Investment Board reduced its stake in Enbridge Inc (USA) by 21.34% during the most recent quarter end. The investment management company now holds a total of 1,623,064 shares of Enbridge Inc (USA) which is valued at $67,892,767 after selling 440,400 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 0.82% of Public Sector Pension Investment Board’s portfolio.

Other Hedge Funds, Including , Omers Administration Corp reduced its stake in ENB by selling 929,000 shares or 14.95% in the most recent quarter. The Hedge Fund company now holds 5,286,000 shares of ENB which is valued at $221,113,380. Enbridge Inc (USA) makes up approx 4.50% of Omers Administration Corp’s portfolio. Janney Montgomery Scott added ENB to its portfolio by purchasing 40,926 company shares during the most recent quarter which is valued at $1,690,653. Enbridge Inc (USA) makes up approx 0.03% of Janney Montgomery Scott’s portfolio.Duff Phelps Investment Management Co reduced its stake in ENB by selling 5,880 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 1,833,021 shares of ENB which is valued at $75,392,154. Enbridge Inc (USA) makes up approx 1.12% of Duff Phelps Investment Management Co’s portfolio.Highstreet Asset Management reduced its stake in ENB by selling 1,394 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 236,429 shares of ENB which is valued at $9,497,353. Enbridge Inc (USA) makes up approx 3.24% of Highstreet Asset Management’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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