Enbridge Inc. (NYSE:ENB) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,287 shares of the pipeline company’s stock after selling 1,830 shares during the quarter. Mission Wealth Management LP’s holdings in Enbridge were worth $479,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ENB. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. National Bank of Canada FI boosted its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Enbridge by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ENB shares. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Trading Up 2.5 %

Shares of ENB stock opened at $42.60 on Thursday. The company’s 50-day moving average price is $43.45 and its 200-day moving average price is $42.07. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $92.82 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a twelve month low of $32.85 and a twelve month 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 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share 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.