As Enbridge INC (ENB) Share Price Rose, Hennessy Advisors INC Has Cut Stake by $4.20 Million

September 16, 2018 - By Pearl Odom

Enbridge Inc. (NYSE:ENB) Logo

Hennessy Advisors Inc decreased its stake in Enbridge Inc (ENB) by 7.06% based on its latest 2018Q2 regulatory filing with the SEC. Hennessy Advisors Inc sold 120,000 shares as the company’s stock rose 5.40% with the market. The institutional investor held 1.58M shares of the natural gas distribution company at the end of 2018Q2, valued at $56.35 million, down from 1.70M at the end of the previous reported quarter. Hennessy Advisors Inc who had been investing in Enbridge Inc for a number of months, seems to be less bullish one the $58.58B market cap company. The stock decreased 0.70% or $0.24 during the last trading session, reaching $33.89. About 1.80 million shares traded. Enbridge Inc. (NYSE:ENB) has declined 16.60% since September 16, 2017 and is downtrending. It has underperformed by 32.22% the S&P500.

Analysts await Enbridge Inc. (NYSE:ENB) to report earnings on November, 1. They expect $0.38 EPS, down 2.56 % or $0.01 from last year’s $0.39 per share. ENB’s profit will be $656.85M for 22.30 P/E if the $0.38 EPS becomes a reality. After $0.62 actual EPS reported by Enbridge Inc. for the previous quarter, Wall Street now forecasts -38.71 % negative EPS growth.

More notable recent Enbridge Inc. (NYSE:ENB) news were published by: which released: “Enbridge to acquire remainder of Spectra Energy Partners in $3.3B deal” on August 24, 2018, also with their article: “Enbridge: Latest Earnings Show Growth Plan Playing Out” published on August 28, 2018, published: “Is Enbridge Energy Partners, LP a Buy?” on September 06, 2018. More interesting news about Enbridge Inc. (NYSE:ENB) were released by: and their article: “Why This High-Yield Company Will Deliver Attractive Returns” published on August 24, 2018 as well as‘s news article titled: “Rough seas delay completion of cross-border pipeline” with publication date: September 13, 2018.

Enbridge Inc. (NYSE:ENB) Ratings Coverage

Among 5 analysts covering Enbridge Inc Common Stock (NYSE:ENB), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Enbridge Inc Common Stock had 6 analyst reports since March 23, 2018 according to SRatingsIntel. BMO Capital Markets maintained the stock with “Outperform” rating in Thursday, June 14 report. As per Friday, July 13, the company rating was maintained by Morgan Stanley. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, March 23. On Tuesday, May 22 the stock rating was maintained by IBC with “Buy”. As per Friday, August 17, the company rating was upgraded by Bank of America.

Enbridge Inc. (NYSE:ENB) Ratings Chart

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