Schaper Benz & Wise Investment Counsel Inc. WI Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Schaper Benz & Wise Investment Counsel Inc. WI cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 236,502 shares of the pipeline company’s stock after selling 1,819 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Enbridge were worth $10,035,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the period. National Bank of Canada FI raised its stake in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. boosted its position 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 period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

ENB stock opened at $42.00 on Friday. The stock’s 50 day simple moving average is $43.45 and its 200 day simple moving average is $42.10. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The firm has a market cap of $91.51 billion, a P/E ratio of 24.42, a P/E/G 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.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ENB. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.