Regal Investment Advisors LLC Reduces Position in Enbridge Inc. (NYSE:ENB)

Regal Investment Advisors LLC lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,075 shares of the pipeline company’s stock after selling 508 shares during the period. Regal Investment Advisors LLC’s holdings in Enbridge were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Vanguard Group Inc. grew its position in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. GQG Partners LLC grew its holdings in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge in the 4th quarter valued at about $909,415,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.7 %

Shares of Enbridge stock opened at $44.61 on Thursday. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $46.12. The stock has a market capitalization of $97.21 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.92 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business’s 50 day simple moving average is $43.14 and its 200-day simple moving average is $42.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations 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 business posted $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ENB. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.