Gamco Investors INC. ET AL Lowers Stock Holdings in Enbridge Inc. (NYSE:ENB)

Gamco Investors INC. ET AL reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,769 shares of the pipeline company’s stock after selling 246 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Enbridge were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in shares of Enbridge during the 3rd quarter worth about $106,000. Barclays PLC increased its position in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after purchasing an additional 44,675 shares during the last quarter. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Passumpsic Savings Bank boosted its holdings in shares of Enbridge by 2.4% in the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock valued at $470,000 after purchasing an additional 276 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Enbridge by 0.5% during the 3rd quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company’s stock valued at $4,996,000 after buying an additional 581 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

ENB stock opened at $45.32 on Friday. The firm has a market cap of $98.76 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. 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 $33.92 and a 1 year high of $46.12. The stock 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 quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.64 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.