AGF Management Ltd. Sells 874,845 Shares of Enbridge Inc. (NYSE:ENB)

AGF Management Ltd. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,945,297 shares of the pipeline company’s stock after selling 874,845 shares during the quarter. Enbridge comprises about 0.9% of AGF Management Ltd.’s investment portfolio, making the stock its 25th biggest position. AGF Management Ltd. owned about 0.18% of Enbridge worth $183,829,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Global View Capital Management LLC purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $675,000. Davis R M Inc. acquired a new position in shares of Enbridge during the fourth quarter worth $212,000. Meriwether Wealth & Planning LLC acquired a new position in shares of Enbridge in the 4th quarter valued at $417,000. Johnson Investment Counsel Inc. boosted its holdings in Enbridge by 3.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 44,359 shares of the pipeline company’s stock valued at $1,882,000 after purchasing an additional 1,425 shares during the last quarter. Finally, Garrison Bradford & Associates Inc. purchased a new position in Enbridge in the 4th quarter valued at about $209,000. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENB shares. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Up 1.6 %

NYSE ENB opened at $42.69 on Tuesday. 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 firm has a market cap of $93.01 billion, a PE ratio of 24.82, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm’s fifty day moving average is $43.46 and its two-hundred day moving average is $42.15.

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