Motco Sells 1,091 Shares of Enbridge Inc (NYSE:ENB)

by · The Cerbat Gem

Motco lowered its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 29.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,623 shares of the pipeline company’s stock after selling 1,091 shares during the period. Motco’s holdings in Enbridge were worth $116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. HB Wealth Management LLC increased its position in shares of Enbridge by 55.4% during the 1st quarter. HB Wealth Management LLC now owns 21,654 shares of the pipeline company’s stock valued at $959,000 after purchasing an additional 7,721 shares during the last quarter. TD Asset Management Inc increased its position in shares of Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock valued at $1,737,602,000 after purchasing an additional 513,058 shares during the last quarter. GLOBALT Investments LLC GA increased its position in shares of Enbridge by 2.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 195,987 shares of the pipeline company’s stock valued at $8,684,000 after purchasing an additional 4,581 shares during the last quarter. Prossimo Advisors LLC increased its position in shares of Enbridge by 19.9% during the 1st quarter. Prossimo Advisors LLC now owns 6,027 shares of the pipeline company’s stock valued at $267,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Enbridge by 23.0% during the 1st quarter. Assetmark Inc. now owns 249,291 shares of the pipeline company’s stock valued at $11,046,000 after purchasing an additional 46,590 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.0%

Shares of ENB opened at $45.00 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a 1 year low of $36.38 and a 1 year high of $47.44. The company has a 50 day simple moving average of $45.41 and a two-hundred day simple moving average of $44.51. The firm has a market cap of $98.11 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 4.20 and a beta of 0.79.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the firm posted $0.92 EPS. On average, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENB. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

View Our Latest Stock Report on Enbridge

About Enbridge

(Free Report)

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.

Further Reading

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