Enbridge Inc. (NYSE:ENB) Shares Sold by Morgan Stanley Institutional Investment Advisors LLC

Morgan Stanley Institutional Investment Advisors LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,279,196 shares of the pipeline company’s stock after selling 152,542 shares during the quarter. Enbridge comprises about 80.8% of Morgan Stanley Institutional Investment Advisors LLC’s holdings, making the stock its largest position. Morgan Stanley Institutional Investment Advisors LLC owned 0.38% of Enbridge worth $351,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Enbridge Price Performance

Shares of NYSE ENB opened at $45.32 on Friday. 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 company has a market capitalization of $98.76 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a twelve month low of $33.92 and a twelve month high of $46.12. The business has a 50 day simple moving average of $43.15 and a 200-day simple moving average of $42.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping 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 company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

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