Glenview Trust co Decreases Holdings in Enbridge Inc. (NYSE:ENB)

Glenview Trust co reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,984 shares of the pipeline company’s stock after selling 476 shares during the period. Glenview Trust co’s holdings in Enbridge were worth $339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC lifted its stake in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Enbridge in the 3rd quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.5 %

Enbridge stock opened at $43.47 on Tuesday. The firm’s 50 day moving average price is $43.46 and its two-hundred day moving average price is $42.26. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The firm has a market cap of $94.73 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ENB. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.