Fruth Investment Management Trims Position in Enbridge Inc (ENB)

Fruth Investment Management lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,692 shares of the pipeline company’s stock after selling 311 shares during the period. Fruth Investment Management’s holdings in Enbridge were worth $750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its stake in shares of Enbridge by 58.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after buying an additional 300 shares during the period. Front Row Advisors LLC lifted its stake in Enbridge by 3,985.7% during the fourth quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 837 shares during the period. Csenge Advisory Group bought a new position in Enbridge during the third quarter worth about $28,000. Rockland Trust Co. bought a new position in Enbridge during the fourth quarter worth about $28,000. Finally, We Are One Seven LLC bought a new position in Enbridge during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 56.43% of the company’s stock.

In other Enbridge news, insider Albert Monaco acquired 7,806 shares of Enbridge stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $49.33 per share, with a total value of $385,069.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William T. Yardley sold 14,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the completion of the transaction, the insider now directly owns 94,770 shares in the company, valued at $3,504,594.60. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

A number of research analysts have commented on ENB shares. CIBC restated a “buy” rating and set a $57.00 price target on shares of Enbridge in a research note on Tuesday, January 15th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Finally, Bank of America reaffirmed a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.46.

Shares of ENB stock opened at $37.11 on Wednesday. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $37.69. The company has a market capitalization of $75.40 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The firm had revenue of $8.75 billion for the quarter, compared to analysts’ expectations of $12.27 billion. During the same period last year, the firm earned $0.61 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 1.72 earnings per share for the current year.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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