DAVENPORT & Co LLC Sells 54,830 Shares of Enbridge Inc. (NYSE:ENB)

DAVENPORT & Co LLC trimmed its holdings in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,028,327 shares of the pipeline company’s stock after selling 54,830 shares during the period. DAVENPORT & Co LLC owned 0.10% of Enbridge worth $73,333,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Quilter Plc acquired a new position in shares of Enbridge in the first quarter valued at approximately $293,879,000. Coppell Advisory Solutions Corp. acquired a new stake in Enbridge in the fourth quarter valued at $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in Enbridge in the fourth quarter valued at $25,000. Coppell Advisory Solutions LLC bought a new position in shares of Enbridge in the second quarter valued at about $26,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Enbridge in the first quarter valued at about $27,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.1 %

NYSE:ENB traded up $0.03 during mid-day trading on Tuesday, hitting $35.86. 4,438,118 shares of the company’s stock were exchanged, compared to its average volume of 5,503,099. The company has a 50 day simple moving average of $35.21 and a 200-day simple moving average of $34.62. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm has a market capitalization of $76.22 billion, a P/E ratio of 17.07, a PEG ratio of 3.42 and a beta of 0.84.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, research analysts expect that Enbridge Inc. will post 2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus price target of $55.20.

View Our Latest Stock Analysis on Enbridge

Enbridge Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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