Enbridge Inc. (NYSE:ENB) Stake Reduced by Sandy Spring Bank

Sandy Spring Bank decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,047 shares of the pipeline company’s stock after selling 1,204 shares during the quarter. Sandy Spring Bank’s holdings in Enbridge were worth $1,190,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ENB. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new position in shares of Enbridge during the fourth quarter worth approximately $29,000. Wintrust Investments LLC grew its holdings 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 buying an additional 238 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Enbridge in the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 1.1 %

Shares of ENB stock opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $96.34 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The business’s fifty day moving average is $43.45 and its 200-day moving average is $42.31. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.