Enbridge Inc. (NYSE:ENB) Shares Sold by StoneX Group Inc.

StoneX Group Inc. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,538 shares of the pipeline company’s stock after selling 1,069 shares during the quarter. StoneX Group Inc.’s holdings in Enbridge were worth $574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. McIlrath & Eck LLC grew its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC increased its position in shares of 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 purchasing an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the fourth quarter worth about $42,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ENB. CIBC reaffirmed 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 report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Up 1.3 %

NYSE:ENB opened at $45.14 on Thursday. The firm has a market capitalization of $98.37 billion, a P/E ratio of 26.24, a P/E/G ratio of 3.92 and a beta of 0.95. The business has a 50 day simple moving average of $43.48 and a 200 day simple moving average of $42.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for 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 period last year, the business posted $0.64 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current 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.