Adell Harriman & Carpenter Inc. Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Adell Harriman & Carpenter Inc. decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 107,901 shares of the pipeline company’s stock after selling 990 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $4,382,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ENB. Vanguard Group Inc. raised its stake in shares of Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the period. 1832 Asset Management L.P. grew its position in shares of Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% during 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 during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $40.42 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $86.24 billion, a P/E ratio of 20.52, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1 year low of $31.47 and a 1 year high of $42.16. The company’s fifty day moving average is $40.66 and its two-hundred day moving average is $37.85.

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

Wall Street Analysts Forecast Growth

ENB has been the subject of several analyst reports. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Company 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.