Enbridge INC (ENB) Stake Has Lifted by Greystone Managed Investments Inc

December 8, 2017 - By Dolores Ford

Greystone Managed Investments Inc increased its stake in Enbridge Inc (ENB) by 16.52% based on its latest 2017Q2 regulatory filing with the SEC. Greystone Managed Investments Inc bought 361,009 shares as the company’s stock declined 5.78% while stock markets rallied. The institutional investor held 2.55 million shares of the natural gas distribution company at the end of 2017Q2, valued at $101.30M, up from 2.19M at the end of the previous reported quarter. Greystone Managed Investments Inc who had been investing in Enbridge Inc for a number of months, seems to be bullish on the $64.04B market cap company. The stock increased 0.81% or $0.31 during the last trading session, reaching $38.45. About 1.94 million shares traded. Enbridge Inc. (NYSE:ENB) has declined 0.40% since December 8, 2016 and is downtrending. It has underperformed by 17.10% the S&P500.

Greystone Managed Investments Inc, which manages about $2.16B US Long portfolio, decreased its stake in Shaw Communications Inc (NYSE:SJR) by 159,484 shares to 576,983 shares, valued at $12.57M in 2017Q2, according to the filing. It also reduced its holding in Fortis Inc (FRTSF) by 177,642 shares in the quarter, leaving it with 1.91 million shares, and cut its stake in Toronto Dominion Bk Ont (NYSE:TD).

More notable recent Enbridge Inc. (NYSE:ENB) news were published by: Fool.ca which released: “Enbridge Inc. Raises its Dividend 10%: Is it Time to Buy?” on December 06, 2017, also Fool.ca with their article: “Enbridge Inc.: The Double-Digit Dividend Growth Continues! Time to Buy?” published on December 05, 2017, Fool.ca published: “Is Enbridge Inc. the Best Bargain on the TSX?” on November 24, 2017. More interesting news about Enbridge Inc. (NYSE:ENB) were released by: Fool.ca and their article: “Better Buy: Enbridge Inc. or Algonquin Power & Utilities Corp.?” published on November 18, 2017 as well as Fool.ca‘s news article titled: “Enbridge Inc. Stock Now Yields 5%: Should You Buy?” with publication date: November 09, 2017.

Enbridge Inc. (NYSE:ENB) Ratings Coverage

Among 15 analysts covering Enbridge Inc. (NYSE:ENB), 6 have Buy rating, 0 Sell and 9 Hold. Therefore 40% are positive. Enbridge Inc. had 22 analyst reports since August 4, 2015 according to SRatingsIntel. The firm earned “Market Perform” rating on Monday, May 15 by Wolfe Research. The rating was maintained by Morgan Stanley on Friday, November 17 with “Equal-Weight”. As per Tuesday, March 8, the company rating was maintained by Credit Suisse. The stock has “Neutral” rating by JP Morgan on Friday, June 23. BMO Capital Markets reinitiated the shares of ENB in report on Wednesday, March 2 with “Outperform” rating. The firm has “Neutral” rating given on Thursday, September 1 by Bank of America. On Monday, April 3 the stock rating was maintained by Wells Fargo with “Market Perform”. The stock has “Sector Perform” rating by National Bank Canada on Monday, July 18. The rating was maintained by Morgan Stanley with “Equal-Weight” on Friday, July 14. Credit Suisse downgraded it to “Neutral” rating and $54 target in Thursday, February 4 report.

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