Inscription Capital LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

Inscription Capital LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,030 shares of the pipeline company’s stock after selling 2,965 shares during the quarter. Inscription Capital LLC’s holdings in Enbridge were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC boosted its holdings in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares during the period. M&G Plc bought a new stake in shares of Enbridge during the first quarter valued at about $152,843,000. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the period. Finally, National Bank of Canada FI grew its stake in Enbridge by 11.3% during the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $40.88 on Tuesday. The business’s 50-day moving average price is $40.63 and its 200-day moving average price is $37.81. The firm has a market capitalization of $87.22 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 12 month low of $31.47 and a 12 month high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating on the stock.

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.