Enbridge Inc. (NYSE:ENB) Stake Cut by Gray Wealth Management Inc.

Gray Wealth Management Inc. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,857 shares of the pipeline company’s stock after selling 1,981 shares during the quarter. Gray Wealth Management Inc.’s holdings in Enbridge were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. Harbor Investment Advisory LLC grew its position in Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares in the last quarter. SVB Wealth LLC boosted its stake in shares of Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after buying an additional 297 shares during the period. North Star Investment Management Corp. grew its holdings in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Enbridge by 25.3% in the third quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock worth $56,000 after acquiring an additional 339 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Enbridge by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB traded up $0.57 during trading on Thursday, reaching $33.90. 6,954,058 shares of the company’s stock were exchanged, compared to its average volume of 5,446,153. The company has a market capitalization of $72.07 billion, a P/E ratio of 15.87, a PEG ratio of 3.12 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average price of $35.03 and a 200 day moving average price of $34.65. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ENB. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average price target of $55.20.

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.