Westwood Holdings Group Inc. decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 135,047 shares of the pipeline company’s stock after selling 2,696 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Enbridge were worth $5,282,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Argent Trust Co lifted its position in Enbridge by 49.7% during the fourth quarter. Argent Trust Co now owns 19,244 shares of the pipeline company’s stock worth $752,000 after buying an additional 6,388 shares in the last quarter. Glenmede Trust Co. NA raised its position in Enbridge by 3.2% in the fourth quarter. Glenmede Trust Co. NA now owns 84,547 shares of the pipeline company’s stock valued at $3,306,000 after purchasing an additional 2,604 shares during the period. M Holdings Securities Inc. raised its position in Enbridge by 11.3% in the fourth quarter. M Holdings Securities Inc. now owns 17,312 shares of the pipeline company’s stock valued at $394,000 after purchasing an additional 1,754 shares during the period. Biltmore Family Office LLC purchased a new stake in Enbridge in the fourth quarter valued at $916,000. Finally, LPL Financial LLC raised its position in Enbridge by 6.9% in the fourth quarter. LPL Financial LLC now owns 178,495 shares of the pipeline company’s stock valued at $6,981,000 after purchasing an additional 11,572 shares during the period. Hedge funds and other institutional investors own 63.20% of the company’s stock.
In related news, insider Robert R. Rooney bought 6,100 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average cost of $40.80 per share, with a total value of $248,880.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael E. J. Phelps sold 18,054 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total value of $613,836.00. Following the transaction, the director now directly owns 56,245 shares of the company’s stock, valued at $1,912,330. The disclosure for this sale can be found here.
ENB has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Bank of America initiated coverage on Enbridge in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley cut their price objective on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Enbridge presently has a consensus rating of “Hold” and a consensus price target of $45.00.
Shares of Enbridge Inc (ENB) opened at $30.70 on Tuesday. Enbridge Inc has a 1-year low of $30.48 and a 1-year high of $42.92. The stock has a market capitalization of $53,466.30, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.29 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.05.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 16th. The pipeline company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.39 billion. research analysts forecast that Enbridge Inc will post 1.77 earnings per share for the current fiscal year.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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