Delta Asset Management LLC TN Sells 8,643 Shares of Enbridge Inc. (NYSE:ENB)

Delta Asset Management LLC TN cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 471,636 shares of the pipeline company’s stock after selling 8,643 shares during the period. Enbridge makes up 1.8% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 18th largest position. Delta Asset Management LLC TN’s holdings in Enbridge were worth $20,012,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth about $180,941,000. Vanguard Group Inc. raised its position in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. National Bank of Canada FI grew its position 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 purchasing an additional 2,061,758 shares during the period. Finally, GQG Partners LLC increased its stake in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENB. 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 report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $44.51 on Thursday. The firm has a market cap of $96.98 billion, a PE ratio of 25.88, a P/E/G 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’s fifty day simple moving average is $43.49 and its 200-day simple moving average is $42.43. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

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

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.