Viawealth LLC Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Viawealth LLC lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,436 shares of the pipeline company’s stock after selling 1,896 shares during the period. Viawealth LLC’s holdings in Enbridge were worth $697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. McIlrath & Eck LLC lifted 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 worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge in the 4th quarter worth about $29,000. Wintrust Investments LLC lifted its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Enbridge during the third quarter valued at approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Enbridge by 149.9% during the fourth 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 during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ENB. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. 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 research report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Up 0.7 %

ENB opened at $43.73 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average is $43.45 and its two-hundred day moving average is $42.30. The company has a market capitalization of $95.28 billion, a P/E ratio of 25.42, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78.

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

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.