Rodgers Brothers Inc. Sells 800 Shares of Enbridge Inc. (NYSE:ENB)

Rodgers Brothers Inc. cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,036 shares of the pipeline company’s stock after selling 800 shares during the quarter. Rodgers Brothers Inc.’s holdings in Enbridge were worth $2,378,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. GQG Partners LLC boosted its stake in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Enbridge by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Norges Bank purchased a new position in Enbridge in the 4th quarter worth $909,415,000. Finally, National Bank of Canada FI lifted its stake in Enbridge by 12.8% in the third 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. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $44.43 on Monday. 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 company has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The company has a 50-day moving average price of $43.49 and a 200-day moving average price of $42.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS 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.