Enbridge Inc. (NYSE:ENB) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,480 shares of the pipeline company’s stock after selling 3,278 shares during the period. Independent Advisor Alliance’s holdings in Enbridge were worth $3,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. apricus wealth LLC increased its position in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Enbridge by 3.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7 %

Shares of NYSE:ENB opened at $42.38 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The business has a 50 day moving average of $43.46 and a two-hundred day moving average of $42.17. The company has a market capitalization of $92.34 billion, a PE ratio of 24.64, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENB. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.