Enbridge INC (ENB) Shareholder Caisse De Depot Et Placement Du Quebec Cut Its Holding as Stock Declined

July 18, 2017 - By Adrian Mccoy

Caisse De Depot Et Placement Du Quebec decreased its stake in Enbridge Inc (ENB) by 0.26% based on its latest 2016Q4 regulatory filing with the SEC. Caisse De Depot Et Placement Du Quebec sold 101,936 shares as the company’s stock declined 5.78% while stock markets rallied. The institutional investor held 39.21 million shares of the natural gas distribution company at the end of 2016Q4, valued at $1.65 billion, down from 39.31M at the end of the previous reported quarter. Caisse De Depot Et Placement Du Quebec who had been investing in Enbridge Inc for a number of months, seems to be less bullish one the $66.28B market cap company. The stock decreased 0.42% or $0.17 on July 17, reaching $40.66. About shares traded. Enbridge Inc (USA) (NYSE:ENB) has declined 0.40% since July 18, 2016 and is downtrending. It has underperformed by 17.10% the S&P500.

Caisse De Depot Et Placement Du Quebec, which manages about $39.56B US Long portfolio, upped its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 226,719 shares to 2.06 million shares, valued at $180.63M in 2016Q4, according to the filing. It also increased its holding in Oracle Corp (NYSE:ORCL) by 800,500 shares in the quarter, for a total of 17.46M shares, and has risen its stake in Open Text Corp (NASDAQ:OTEX).

More notable recent Enbridge Inc (USA) (NYSE:ENB) news were published by: Fool.ca which released: “Top Dividend Stock: Canadian Imperial Bank of Commerce or Enbridge Inc.?” on June 22, 2017, also Fool.ca with their article: “Is Enbridge Inc. on Pause?” published on June 14, 2017, Benzinga.com published: “Jim Cramer Gives His Opinion On Walgreens, Enbridge And Shopify” on July 13, 2017. More interesting news about Enbridge Inc (USA) (NYSE:ENB) were released by: Fool.ca and their article: “Retirees: Should You Buy BCE Inc. or Enbridge Inc. Today?” published on June 30, 2017 as well as Fool.ca‘s news article titled: “Fill Your Pipeline With Enbridge Inc.” with publication date: July 03, 2017.

Enbridge Inc (USA) (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. has $74 highest and $43 lowest target. $59.50’s average target is 46.34% above currents $40.66 stock price. Enbridge Inc. had 21 analyst reports since August 4, 2015 according to SRatingsIntel. The firm has “Market Perform” rating given on Monday, April 3 by Wells Fargo. Goldman Sachs downgraded Enbridge Inc (USA) (NYSE:ENB) on Wednesday, July 20 to “Neutral” rating. The firm has “Neutral” rating given on Tuesday, March 8 by Credit Suisse. As per Monday, March 7, the company rating was initiated by Canaccord Genuity. The firm has “Outperform” rating by BMO Capital Markets given on Wednesday, March 2. The firm earned “Hold” rating on Friday, June 23 by J.P. Morgan. The stock of Enbridge Inc (USA) (NYSE:ENB) earned “Outperform” rating by Credit Suisse on Tuesday, March 14. The firm has “Neutral” rating by Bank of America given on Thursday, September 1. The stock of Enbridge Inc (USA) (NYSE:ENB) earned “Equal-Weight” rating by Morgan Stanley on Friday, July 14. RBC Capital Markets maintained it with “Outperform” rating and $71 target in Friday, October 9 report.

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