Advisory Services Network LLC Sells 6,755 Shares of Enbridge Inc. (NYSE:ENB)

by · The Markets Daily

Advisory Services Network LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,417 shares of the pipeline company’s stock after selling 6,755 shares during the quarter. Advisory Services Network LLC’s holdings in Enbridge were worth $2,776,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. apricus wealth LLC lifted its stake in shares of Enbridge by 1.1% in the fourth 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 in the last quarter. Cornerstone Wealth Management LLC raised its holdings 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 worth $1,252,000 after acquiring an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Enbridge by 3.2% in the 4th 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 in the last quarter. Wintrust Investments LLC boosted its stake in 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 purchasing an additional 238 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in 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 in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $41.80 on Friday. The business’s fifty day simple moving average is $43.15 and its 200 day simple moving average is $42.64. 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 $46.12. The firm has a market capitalization of $91.10 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its earnings results 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 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 in the previous year, the business posted $0.64 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis 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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