Commonwealth Equity Services LLC Has $43.43 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Commonwealth Equity Services LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,023,562 shares of the pipeline company’s stock after selling 3,358 shares during the period. Commonwealth Equity Services LLC’s holdings in Enbridge were worth $43,430,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank raised 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 acquiring an additional 207,200 shares in the last quarter. Metis Global Partners LLC raised 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 acquiring an additional 7,986 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised 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 acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised 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 acquiring an additional 319,907 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake 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 valued at $26,808,000 after purchasing an additional 49,800 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

NYSE ENB opened at $42.86 on Friday. The firm has a market cap of $93.38 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock’s 50 day simple moving average is $43.45 and its 200 day simple moving average is $42.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company earned $0.64 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.00.

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.