Intech Investment Management LLC Sells 174,753 Shares of Enbridge Inc. (NYSE:ENB)

Intech Investment Management LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 74.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,877 shares of the pipeline company’s stock after selling 174,753 shares during the quarter. Intech Investment Management LLC’s holdings in Enbridge were worth $2,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ENB shares. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of Enbridge stock opened at $43.73 on Thursday. The stock has a market capitalization of $95.28 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.86 and a one year high of $45.78. The business’s 50 day simple moving average is $43.45 and its two-hundred day simple moving average is $42.30. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company earned $0.64 EPS. Analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

About Enbridge

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.