Enbridge Inc. (NYSE:ENB) Shares Sold by Sandy Spring Bank

by · The Markets Daily

Sandy Spring Bank decreased its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,047 shares of the pipeline company’s stock after selling 1,204 shares during the quarter. Sandy Spring Bank’s holdings in Enbridge were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC grew its holdings in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares in the last quarter. Aviso Financial Inc. grew its stake in shares of Enbridge by 4.3% during the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after acquiring an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in shares of Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Enbridge by 8.6% in the fourth 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 last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.1 %

NYSE:ENB opened at $44.21 on Friday. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company has a market cap of $96.34 billion, a PE ratio of 25.70, a P/E/G ratio of 3.92 and a beta of 0.95. The business’s 50 day moving average is $43.45 and its two-hundred day moving average is $42.31.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Get Our Latest Analysis on Enbridge

Enbridge Company Profile

(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.

Featured Articles