Greystone Managed Investments INC Has Raised Enbridge INC (ENB) Stake by $14.08 Million as Shares Declined

December 8, 2017 - By Adrian Erickson

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 2.19 million 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 $64.04 billion market cap company. The stock increased 0.81% or $0.31 during the last trading session, reaching $38.45. About 1.94M 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 Tahoe Res Inc (NYSE:TAHO) by 811,559 shares to 2.84 million shares, valued at $24.43 million in 2017Q2, according to the filing. It also reduced its holding in Shaw Communications Inc (NYSE:SJR) by 159,484 shares in the quarter, leaving it with 576,983 shares, and cut its stake in Manulife Finl Corp (NYSE:MFC).

More notable recent Enbridge Inc. (NYSE:ENB) news were published by: Fool.ca which released: “Why Enbridge Inc. Popped +6% on Thursday” on December 01, 2017, also Fool.ca with their article: “Better Buy: Algonquin Power & Utilities Corp. or Enbridge Inc.?” published on November 25, 2017, Fool.ca published: “Better Buy: Enbridge Inc. or Algonquin Power & Utilities Corp.?” on November 18, 2017. More interesting news about Enbridge Inc. (NYSE:ENB) were released by: Fool.ca and their article: “Is Enbridge Inc. the Best Bargain on the TSX?” published on November 24, 2017 as well as Fool.ca‘s news article titled: “Enbridge Inc. Raises its Dividend 10%: Is it Time to Buy?” with publication date: December 06, 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 “Equal-Weight” rating on Friday, November 17 by Morgan Stanley. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, July 14. The rating was reinitiated by JP Morgan on Friday, June 23 with “Neutral”. The rating was initiated by Canaccord Genuity on Monday, March 7 with “Buy”. The rating was downgraded by Credit Suisse to “Neutral” on Thursday, February 4. The rating was reinitiated by BMO Capital Markets with “Outperform” on Wednesday, March 2. Wells Fargo maintained Enbridge Inc. (NYSE:ENB) on Monday, April 3 with “Market Perform” rating. As per Wednesday, January 18, the company rating was reinitiated by Citigroup. Wolfe Research maintained Enbridge Inc. (NYSE:ENB) on Monday, May 15 with “Market Perform” rating. RBC Capital Markets maintained Enbridge Inc. (NYSE:ENB) on Friday, October 9 with “Outperform” rating.

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