GLOBALT Investments LLC GA Reduces Holdings in Enbridge Inc. (NYSE:ENB)

GLOBALT Investments LLC GA cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,406 shares of the pipeline company’s stock after selling 2,694 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Enbridge were worth $8,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ENB. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC lifted 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 during the period. Darwin Wealth Management LLC purchased a new stake in Enbridge in the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.7 %

ENB opened at $42.86 on Monday. The stock has a market cap of $93.38 billion, a PE ratio of 24.92, a PEG ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average of $43.45 and a 200-day moving average of $42.23. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. 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 analysts’ expectations of $4.78 billion. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ENB shares. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised 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. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued 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.com, the stock currently has an average rating of “Moderate Buy” 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.