Enbridge Inc. (NYSE:ENB) Stock Position Lessened by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,826,865 shares of the pipeline company’s stock after selling 316,400 shares during the period. Enbridge accounts for about 3.8% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 11th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Enbridge were worth $162,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ENB. McIlrath & Eck LLC raised its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT acquired a new position in Enbridge in the 4th quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in Enbridge in the third quarter valued at about $37,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in 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 buying an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Enbridge in the 4th quarter worth about $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Down 0.7 %

NYSE ENB opened at $42.38 on Wednesday. The stock has a market capitalization of $92.34 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock’s 50 day moving average price is $43.46 and its two-hundred day moving average price is $42.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.14 earnings per share 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.