Commonwealth Equity Services LLC Sells 3,358 Shares of Enbridge Inc. (NYSE:ENB)

Commonwealth Equity Services LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,023,562 shares of the pipeline company’s stock after selling 3,358 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Enbridge were worth $43,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. apricus wealth LLC raised its stake in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares in the last quarter. Wintrust Investments LLC raised its stake in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised 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. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.7 %

Shares of Enbridge stock opened at $42.86 on Friday. The firm has a market capitalization of $93.38 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 firm’s 50 day moving average is $43.45 and its 200 day moving average is $42.20. Enbridge Inc. has a 1 year low of $32.85 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.64 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ENB shares. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a 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 investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.