Rodgers Brothers Inc. Sells 800 Shares of Enbridge Inc. (NYSE:ENB)

Rodgers Brothers Inc. trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,036 shares of the pipeline company’s stock after selling 800 shares during the quarter. Rodgers Brothers Inc.’s holdings in Enbridge were worth $2,378,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. apricus wealth LLC raised its stake in shares of Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC raised its position in Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after acquiring an additional 227 shares during the period. Armstrong Advisory Group Inc. boosted its stake in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares during the last quarter. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.43 on Monday. The company has a 50 day moving average of $43.49 and a 200 day moving average of $42.50. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78. The stock has a market cap of $96.82 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95.

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

Wall Street Analyst Weigh In

ENB has been the topic of several research analyst reports. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada boosted 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has a consensus 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.