Moors & Cabot Inc. Trims Holdings in Enbridge Inc. (NYSE:ENB)

Moors & Cabot Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,271 shares of the pipeline company’s stock after selling 396 shares during the period. Moors & Cabot Inc.’s holdings in Enbridge were worth $5,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Enbridge by 32.6% in 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 in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.7 %

NYSE ENB opened at $42.38 on Wednesday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company’s 50 day moving average price is $43.46 and its 200 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. The firm 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.64 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENB. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada increased 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the 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 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.