Viawealth LLC Sells 1,896 Shares of Enbridge Inc. (NYSE:ENB)

Viawealth LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,436 shares of the pipeline company’s stock after selling 1,896 shares during the quarter. Viawealth LLC’s holdings in Enbridge were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Metis Global Partners LLC grew its position in shares of Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares during the last quarter. Aviso Financial Inc. grew its holdings in Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research analyst reports. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $43.73 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business has a fifty day moving average of $43.45 and a 200 day moving average of $42.30. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.86 and a 1 year 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, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Company 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.